assignment on market around us

• CBSE Notes For Class 7
• Class 7 Social Science Notes
• Class 7 Civics Notes
• Chapter 7 Markets Around Us

CBSE Notes Class 7 Social Science Civics Chapter 7 - Markets Around Us

CBSE Notes Class 7 Social Science Civics Chapter 7 discusses ‘Markets Around Us’. At one level, you study different market sites: a weekly market, neighbourhood shops, a shopping complex, etc. At another level, you explore the intricate question, ‘how do goods reach these markets?’ You will also examine how a chain of markets operates. You usually associate ‘market’ with marketplaces, but buying and selling take place in diverse ways and the chapter discusses how all of this falls within a larger understanding of markets.

• Chapter 1 On Equality
• Chapter 2 Role Of The Government In Health
• Chapter 3 How The State Government Works
• Chapter 4 Growing Up As Boys And Girls
• Chapter 5 Women Change The World
• Chapter 6 Understanding Media
• Chapter 8 A Shirt In The Market
• Chapter 9 Struggles For Equality

CBSE Notes Class 7 Social Science Civics Chapter 7 – Markets Around Us

Weekly market.

Weekly market held on a specific day of the week. They do not have permanent shops, for example, vegetable markets. Traders set up shops for the day and then close them up in the evening. Then they may set up at a different place the next day.

Many things in weekly markets are available at cheaper rates because:

• They don’t have shops or permanent buildings. Therefore, they don’t have to pay rent, electricity and other expenses.
• They don’t have to pay wages to their workers.
• They have a large number of sellers selling the same goods. So, if someone is selling the things at a low price, people will prefer to buy from it.

One of the advantages of weekly markets is that most things are available in one place such as vegetables, groceries, cloth items or utensils.

Shops in the neighbourhood

There are many shops that sell goods and services in our neighbourhoods. We buy milk from the dairy, groceries from departmental stores etc. Shops are permanent and are near our homes. Here, buyers and sellers know each other and these shops also provide goods on credit. There are also sellers who sell their goods on the roadside.

Shopping complexes and malls

There are other markets in the urban area that have many shops popularly called shopping complexes. These are multi-storeyed air-conditioned buildings with shops on different floors, known as malls . Here you get both branded and non-branded goods. Big companies sell their products through these shops in large urban markets and, at times, through special showrooms. Fewer people can afford to buy products from malls and shopping complexes.

Chain of markets

Goods are produced in factories, on farms and in homes. The people in between the producer and the final consumer are the traders . The wholesale trader first buys goods in large quantities. Then they sell it to other traders. Buying and selling take place between traders which helps goods to reach faraway places. The trader who finally sells products to the consumer is the retailer .

Markets everywhere

It is not always necessary that one has to go to the market to purchase goods. You can place orders for a variety of things through the phone and the Internet. The goods get delivered to your home. Buying and selling take place in different ways, not necessarily through shops in the market.

Markets and equality

We have seen that small traders with little money, struggle to run their shop whereas some are able to spend a lot of money to set up the shop. They also earn unequal amounts. Similarly, buyers are also different from each other. There are many who are not able to afford the cheapest of goods while others are busy shopping in malls.

We hope CBSE Notes for Class 7 Social Science Civics Chapter 7 help you prepare better for your exams. Keep learning and stay tuned for more updates on CBSE and NCERT.

For more information on Markets , watch the below video

Frequently Asked Questions on CBSE Class 7 Civics Notes Chapter 7 Markets Around Us

What is a shopping complex.

A large retail complex containing stores and restaurants in adjacent buildings or in a single large building is known as a shopping complex.

Who is a trader?

A trader is an individual who engages in the buying and selling of financial assets in any financial market.

Who is a retailer?

A retailer is an entity that sells goods such as clothing, groceries, or cars directly to consumers through various distribution channels with the goal of earning a profit.

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Markets Around Us

Ncert solutions for chapter 7 markets around us class 7 civics.

Compare and contrast a weekly market and a shopping complex on the following:

NCERT Solutions for Chapter 4 The Age of Industrialisation Class 10 History

Related chapters.

• On Equality
• Role of the Government in Health
• How the State Government Works
• Growing up as Boys and Girls
• Women Change the World

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NCERT Solutions and Notes for Class 7 Civics Chapter 7: Markets Around Us (Free PDF)

• Updated on  
• Feb 27, 2024

NCERT Class 7 Civics: Chapter 7 discusses ‘Markets Around Us’. At one level, we study different market sites: a weekly market, neighbourhood shops, a shopping complex, etc. At another level, we explore the intricate question, ‘How do goods reach these markets?’ We examine how a chain of markets operates and the role of wholesale markets within this, through the case study of a wholesale vegetable market. We usually associate ‘market’ with marketplaces, but buying and selling takes place in diverse ways and the chapter discusses how all of this falls within a larger understanding of markets.

Download Social Science Class 7 Civics Chapter 7 Important Questions and Answers PDF

Explore all the Chapters of Class 7 Civics:-

Also Read: Understanding Capitalism: Definition, History, and Significance

Important Definitions in NCERT Class 7 Civics Chapter 7

• Weekly market: These markets are not daily markets but are to be found at a particular place on one or maybe two days of the week. These markets most often sell everything that a household needs ranging from vegetables to clothes to utensils. 
• Mall: This is an enclosed shopping space. This is usually a large building with many floors that has shops, restaurants and, at times, even a cinema theatre. These shops most often sell branded products. 
• Wholesale: This refers to buying and selling in large quantities. Most products, including vegetables, fruits and flowers have special wholesale markets. 
• Chain of markets: A series of markets that are connected like links in a chain because products pass from one market to another.

Also Read: What is Local Self-Government? Definition, Functions, Importance 

Important Questions in NCERT Class 7 Civics Chapter 7: Free PDF Download

1. In what ways is a hawker different from a shop owner? 

Ans.  A hawker does not have a designated location from where they sell their items. Instead, they move from one location to another to sell at a minimum profit. There is a minimum capital investment when it comes to setting up a business unit, and there is no limit to the wares that can be sold by a hawker while bringing their service to the very doorstep of customers.

A shopkeeper has a designated building from where they sell their wares. Customers will come to buy their preferred items at the shops. A shopkeeper’s customer base is limited to the geographical location of their shop. The wares sold can be limited to the type of shop. For example, a clothing store will only sell clothes, while a bookshop will only sell books etc.

2. Compare and contrast a weekly market and a shopping complex on the following:

3. Explain how a chain of markets is formed. What purpose does it serve? 

Ans. The people in between the producer and the final consumer are the traders. The wholesale trader first buys goods in large quantities. For example, the vegetable wholesale trader will not buy a few kilos of vegetables but will buy in large lots of 25 to 100 kilos. These will then be sold to other traders. In these markets, buying and selling take place between traders. It is through these links of traders that goods reach faraway places. The trader who finally sells this to the consumer is the retailer. This could be a trader in a weekly market, a hawker in the neighbourhood or a shop in a shopping complex. Thus, it can be concluded that from factories to consumers, a chain of market is formed. 

4. ‘All persons have equal rights to visit any shop in a marketplace.’ Do you think this is true for shops with expensive products? Explain with examples. 

Ans. Yes, this is true for shops with expensive items. Even if the consumer cannot afford to buy them, the shopkeeper is still obligated to show the items up for display. The shopkeeper, under no circumstances, may force the consumer to buy the item shown. That decision is solely left to the choice of the consumer. An example of this can be; RIya and Lata went to Delhi Mall for a casual visit. While exploring their way through the mall, they enter a shop which is selling branded clothes. Although they admire the quality of the clothes, the unbelievable price tags on them made them move away to a different shop selling the same type of clothes at a reasonable price.

5. ‘Buying and selling can take place without going to a marketplace.’ Explain this statement with the help of examples.

Ans. Considering the advancements in technology, buying and selling can definitely take place without going to a marketplace. We call it online shopping. Now, people do not need a marketplace to buy and sell goods. They can now be purchased online through cards and payment apps. One can just place the order, and it will be delivered to their doorstep. It applies to even local Kirana stores, where with the help of a web or mobile app, one can place orders for groceries, and they will be delivered to them. 

Explore Notes of All subjects of CBSE Class 7:-

Don’t Forget to Check Out Previous Chapters Notes Class 7 Civics:

Check out Class 6 Civics Notes:

Weekly markets can be found at a particular place on one or maybe two days of the week. These markets most often sell everything that a household needs ranging from vegetables to clothes to utensils. 

A mall is an enclosed shopping space. This is usually a large building with many floors that has shops, restaurants and, at times, even a cinema theatre. These shops most often sell branded products. 

A hawker does not have a designated location from where they sell their items. Instead, they move from one location to another to sell at a minimum profit. There is a minimum capital investment when it comes to setting up a business unit, and there is no limit to the wares that can be sold by a hawker while bringing their service to the very doorstep of customers.

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Daman is a creative and enthusiastic writer who loves to create well researched and impactful content for students willing to pursue higher studies abroad, from universities, courses and exams to writing fun blogs for students abroad.

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Question 1:

In what ways is a hawker different from a shop owner?

A hawker is different from a shop owner because the hawker does not have a permanent shop but moves from place to place, selling his goods on the roadside and in weekly markets.

Page No 103:

Question 2:.

Compare and contrast a weekly market and a shopping complex on the following:

Question 3:

Explain how a chain of markets is formed. What purpose does it serve?

A chain of markets is formed when a number of traders supply goods from the producers to the consumers. We thus have wholesale markets where other dealers buy the goods in bulk. These dealers then sell the goods in weekly markets to consumers and thus a chain of markets is formed. The chain serves the purpose of bringing the goods from the producers, who live in far off areas, to consumers in towns and cities.

Question 4:

‘All persons have equal rights to visit any shop in a marketplace.’ Do you think it is true of shops with expensive products? Explain with examples.

This is not true of shops with expensive products because people who do not have money cannot shop there. Sometimes people who look poor are not entertained at such shops but are politely or sometimes forcibly made to leave.

Question 5:

‘Buying and selling can take place without going to a marketplace.’ Explain this statement with the help of examples.

‘Buying and selling can take place without going to the market place.’ This is made possible by the use of plastic money. People can shop online and can pay using their credit cards. The goods are then delivered to their doorstep.

View NCERT Solutions for all chapters of Class 7

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CBSE Class 7 Social Science Civics Market Around Us Worksheets

CBSE Class 7 Social Science Market Around Us Worksheets – In the present education system, Worksheets are playing an important role. Worksheets are very useful for every student in order to practice all the topics of the subject in a concise way. CBSE Class 7 Social Science worksheets for Market Around Us are prepared by the experts of WorksheetsBuddy.com as per their latest syllabus and its guidelines. For students who are pursuing CBSE Class 7, can also avail the officials released Worksheets for various subjects. Teachers and students both can get the Chapterwise CBSE NCERT Class 7 Worksheets for all subjects like Social Science, etc. from our site.

But today we have come up with CBSE 7th Standard Social Science Market Around Us Worksheets to help students to develop logical, lingual, analytical, and problem-solving capabilities in this topic. So, here we are with a bundle of Social Science Worksheets on this important topic i.e., Market Around Us for CBSE Class 7th Students. You can download these Class 7 CBSE Social Science Market Around Us Worksheets in PDF format from the further sections.

CBSE Class 7 Social Science Market Around Us Worksheets PDF Download

Explore all important concepts of the Market Around Us by using these CBSE Class 7 Social Science Market Around Us Worksheets Pdf. However, NCERT CBSE Worksheets for Class 7 Social Science chapter wise are prepared by our expertise subject teachers based on the latest CBSE Social Science Syllabus & guidelines released by the CBSE board. With the help of our CBSE NCERT Social Science Market Around Us Practice Worksheets , students can easily practice the topic in detail and estimate their preparation level and topic knowledge before the exams.

Market Around Us Multiple Choice Questions (MCQs)

1. Goods are produced in : (a) Factories (b) Farms (c) Industries (d) All of these

2. The urban markets in the form of malls and shopping complexes sell goods. (a) Branded (b) Non-branded (c) All of these (d) None of these

3. Which of the following is a feature of Mall? (a) Air-conditioned buildings (b) Multi-storeyed buildings (c) Shops on different floors (d) All of the these •

4 is near our home and we can go there on any day of the week. (a) Retail shops (b) Malls & Complex (c) Neighbourhood shops (d) None

5. Who kept stock of products or goods in bulk? (a) Wholesaler (b) Market seller (c) Retailer (d) Producer

Market Around Us Fill in the Blanks

1. A seller want to sell his products or services to the maximum number of ……………. 2. The place where all buying and selling activities are conducted is known as ……………. 3. The wholesalers act as a middleman between the ……………. and consumers. 4. ……………. affects the buying power of the people. 5. Soaps, detergent, toothpaste etc. are examples of ……………. products. 6. ……………. refers to the act of designing and producing the container or wrapper of a product. 7. A ……………. is a bundle of utilities that can be used to satisfy human needs and wants. 8 ……………. is the process involved in creating a unique name and image for a product in the consumer’s mind, mainly through advertising campaigns with a consistent theme. 9. Shopkeeper purchase goods in bulk from a ……………. . 10. ……………. markets are those where hawkers or retailers put their products on footpaths.

Market Around Us Very Short Answer Type Questions

1. What is the basis on which a shopkeeper decides which brand to sell and which not? 2. Who is a street vendor? 3. What is the main function of the Confederation of Indian Industry? 4. What is profit? 5. Does market only involve exchange of goods?

Market Around Us Short Answer Type Questions

1. What are the essentials of entrepreneurship? 2. What is purchasing power? 3. Retail price is higher than the wholesale price. Why so? 4. What is the difference between retailer and wholesaler?

Market Around Us Long Answer Type Questions

1. How is the shopping experience in a mall different from that of a weekly market? 2. How is the price for a particular good/commodity decided?

FAQs on CBSE Social Science Chapterwise Worksheets for Class 7

1. Can CBSE Provide Class 7 Social Science Worksheets for all Chapters?

Yes, CBSE Boards prescribe the Worksheets for Class 7 students on its official website. You can also get them from our website WorksheetsBuddy.com.

2. How can I prepare the Class 7 Social Science Market Around Us topic in a fun-learning way?

Practicing NCERT CBSE Class 7 Social Science Market Around Us Worksheets is the best way to prepare the concept in detail and in a fun learning way.

3. Which website provides the best Worksheets for Class 7 Social Science chapter wise CBSE?

WorksheetsBuddy website provides the best & most reliable practice Worksheets for CBSE Class 7 Social Science for all chapters like Market Around Us, etc.

4. How to download PDF Formatted CBSE NCERT Social Science Market Around Us Practice Workbooks for Class 7?

Simply click on the direct links provided on this page and download the CBSE Class 7 Social Science Market Around Us Worksheets in PDF format and use them offline at any time anywhere you wish.

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Class 7 Civics Chapter 7 Markets Around Us Extra Questions and Answers

Class 7 Civics Chapter 7 Markets Around Us extra questions and answers available here. Solving class 7 extra questions help students to revise the Chapter most competently. We prepared these questions as per the latest NCERT book and CBSE syllabus. Practicing these extra questions before the exam will ensure excellent marks in the exam.

Markets Around Us Class 7 Civics Extra Questions and Answers

Very short extra questions and answers.

1: Who is a retailer?

Answer:   Traders who sell good to the consumers

2: Who is a wholesale trader?

Answer:   People or traders who buy and sell thing in bulk and sold them to other traders

3: State an advantage of weekly market.

Answer:   Most of the things we need are available at one place.

4: Why branded goods are expensive as compared to non-branded goods?

Answer:   Branded goods are often promoted by advertising, which costs a lot and thus are expensive.

5: Why fewer people can afford to buy branded goods?

Answer:   Because these goods are expensive

6: The people in between the producer and final consumer are __________________.

Answer:   Traders

7: For buying and selling, shops are must in the market. True/ False

Answer:   False

8: These days’ goods can be delivered at home through internet also. True/False

Answer:   True

9: What is the importance of chain of market?

Answer:   It is because of chain of market that goods produced at one place reaches people everywhere

10: Define wholesale.

Answer:   Wholesale means buying and selling of goods and products in very large quantities.

11: What is chain of market?

Answer:   A series of markets that are connected like links forms chain of market. Products passes from one market to another.

12. Why is weekly market so called?

Answer:  A weekly market is so called because it is held on a specific day of the week.

13. Name some roadside stalls.

Answer: Some roadside stalls are vegetable hawker, the fruit vendor and the mechanic.

14. What is wholesale market?

Answer: This is a place where goods first reach and are then supplied to other traders.

15. How buyers are differently placed?

Answer: Buyers are differently placed. There are many who are not able to afford the cheapest of goods while others are busy shopping in malls.

16. Why is there a competition among the shops in the weekly market?

Answer: In a weekly market there are many shops selling the same goods which creates competition among them.

17. Why branded goods are expensive as compared to non-branded goods?

Answer: Branded goods are often promoted by advertising, which costs a lot and thus they are expensive.

18. Why fewer people can afford to buy branded goods?

Answer: Only fewer people can afford to buy branded goods because branded goods are expensive.

Short Extra Questions and Answers

1. Why don’t we buy directly from the factory or from the farm?

Answer: We don’t buy directly from the factory or from the farm because producers would not be interested in selling us small quantities such as one kilo of vegetables or one plastic mug.

2. Who is a retailer? Give some examples.

Answer:   The trader, who finally sells goods to the consumer, is the retailer. This could be a trader in a weekly market, a hawker in the neighbourhood or a shop in a shopping complex.

3. How are shops in neighbourhood useful to us?

Answer:  Shops in the neighbourhood are useful in many ways. They are near our home and we can go there on any day of the week. Usually, the buyer and seller know each other and these shops also provide goods on credit.

4. Why are goods sold in permanent shops costlier than those sold in the weekly markets or by roadside hawkers?

Answer: This is because when shops are in permanent buildings, they incur a lot of expenditure – they have to pay rent, electricity, fees to the government. They also have to pay wages to their workers.

5. Why is a wholesale trader necessary?

Answer: The people in between the producer and the final consumer are the traders. The wholesale trader first buys goods in large quantities. These will then be sold to other traders. In these markets, buying and selling takes place between traders. It is through these links of traders that goods reach faraway places.

6. Who are the sellers in a weekly market? Why don’t we find big business persons in these markets?

Answer: Weekly markets do not have permanent shops. Traders set up shops for the day and then close them up in the evening. Then they may set up at a different place the next day. We don’t find big business persons in these markets because they sell their products through shops in large urban markets, malls and, at times, through special showrooms.

7. What are the different kinds of shops that you find in your neighbourhood? What do you purchase from them?

Answer: Shops that sell goods and services in our neighbourhoods are departmental stores, other shops such as stationery, eatables or medicines and roadside stalls such as the vegetable hawker, the fruit vendor, the mechanic, etc. We buy milk from the dairy, groceries from departmental stores, stationery, eatables or medicines from other shops.

8. Who is Sameer in the chapter and what does he do?

Answer:  Sameer is a small trader in the weekly market. He buys clothes from a large trader in the town and sells them in six different markets in a week. He and other cloth sellers move in groups. They hire a mini van for this. His customers are from villages that are near the marketplace. At festival times, such as during Deepavali or Pongal, he does good business.

9. ‘Buying and selling can take place without going to a marketplace.’ Explain this statement with the help of examples.

Answer: We can place orders for a variety of things through the phone and these days through the Internet, and the goods are delivered at our home. In clinics and nursing homes, we may have noticed sales representatives waiting for doctors. Such persons are also engaged in the selling of goods. Thus, buying and selling takes place in different ways, not necessarily through shops in the market.

10. Why do you think the guard wanted to stop Kavita and Sujata from entering the shop? What would you say if someone stops you from entering a shop in a market?

Answer: Malls are shops with branded products that are costly and only the rich people can afford to buy them but the guard saw that Kavita and Sujata were not so rich to buy the products of the shop and that’s why he wanted to stop them to enter the shops. If some stops me entering the shop I would feel embarrassed but would tell him that he has no right to stop me like this.

Long Extra Questions and Answers

1. Why do people not bargain in shops located in malls whereas they bargain in weekly markets?

Answer: People do not bargain in shops located in malls whereas they bargain in weekly markets because malls sell expensive and branded goods at the fixed price rate. The rates of products sold in malls are generally high due to addition of establishment cost  that are added up like security charge, govt. service charges sale taxes, rent of the shop electricity charges, wages of the hired labours etc.

2. Write a short note on shopping complexes and malls.

Answer:  There are other markets in the urban area that have many shops, popularly called shopping complexes. These days, in many urban areas, we also have large multi-storeyed air-conditioned buildings with shops on different floors, known as malls. In these urban markets, we get both branded and non-branded goods. Branded goods are expensive, often promoted by advertising and claims of better quality. The companies producing these products sell them through shops in large urban markets and, at times, through special showrooms.

3. From where do you think shop-owners procure their goods?

Answer: Goods are produced in factories, on farms and in homes. However, we don’t buy directly from the factory or from the farm. Nor would the producers be interested in selling us small quantities such as one kilo of vegetables or one plastic mug. The people in between the producer and the final consumer are the traders. The wholesale trader first buys goods in large quantities. These will then be sold to other traders. In these markets, buying and selling takes place between traders. It is through these links of traders that goods reach faraway places. The trader, who finally sells this to the consumer, is the retailer.

4. Is there equality in the market? Justify your answer with the help of suitable example.

Answer: Shop owners in a weekly market and those in a shopping complex are very different people. One is a small trader with little money to run the shop whereas the other is able to spend a lot of money to set up the shop. They also earn unequal amounts. The weekly market trader earns little compared to the profit of a regular shop owner in a shopping complex. Similarly, buyers are differently placed. There are many who are not able to afford the cheapest of goods while others are busy shopping in malls. Thus, whether we can be buyers or sellers in these different markets depends, among other things, on the money that we have.

5. Write about Aftab – The wholesaler in the city.

Answer: Aftab is one of the wholesale traders who purchases in bulk. His business starts around 2 o’clock in the morning when vegetables reach the market. This is the time when the vegetable market or mandi starts buzzing with activity. The vegetables come in trucks, matadors, tractor trolleys from farms both near and far. Soon the process of auctions begins. Aftab participates in this auction and decides what he will buy. He has a shop in the market where he stores the vegetables that he has bought. From here he sells to hawkers and shopkeepers who start coming to the market around six in the morning. They have to organise their purchases so that they can start their shop for the day around ten in the morning.

6. ‘All persons have equal rights to visit any shop in a marketplace.’ Do you think this is true of shops with expensive products? Explain with examples.

Answer: ‘All persons have equal rights to visit any shop in a marketplace.’ Yes, this is true of shops with expensive products. As a customer we are free to enter any shop and explore different products even if we do not have enough money to buy it.

We can understand this more clearly through an example.

Kavita and Sujata went to Anzal Mall. They entered a shop that was selling branded ready-made clothes. They looked at some of the dresses and then looked at the price tag. None of them was less than Rs. 2000, almost five times the weekly market price. The price did not suit their pockets. Hence they went to another shop.

7. Why do people go to a weekly market? Give three reasons.

Answer: People go to a weekly market because of the following reasons:

• Many things in weekly markets are available at cheaper rates.
• Weekly markets also have a large number of shops selling the same goods which means there is competition among them. If some trader were to charge a high price, people would move to another shop where the same thing may be available more cheaply or where the buyer can bargain and bring the price down.
• Most things we need are available at one place. Whether we want vegetables, groceries or cloth items, utensils – all of them can be found here. We do not have to go to different areas to buy different things.

8. In what ways is a hawker different from a shop owner?

Answer: A hawker provides door to door service. He sells his goods by calling out the names of his items. He generally owns a the which we may call a movable shop and keeps in it different items of our everyday use. He sells his goods at a minimum profit.

A shop owner runs his shop at one fixed place. Whenever we need anything we go there and purchase it. Here, we get things at a somewhat costlier rate.

9. Explain how a chain of markets is formed. What purpose does it serve?

Answer: Goods are produced in factories, on farms and in homes. However, we don’t buy directly from the factory or from the farm. Nor would the producers be interested in selling us small quantities such as one kilo of vegetables or one plastic mug. The people in between the producer and the final consumer are the traders. The wholesale trader first buys goods in large quantities. These will then be sold to other traders. In these markets, buying and selling takes place between traders. It is through these links of traders that goods reach faraway places. The trader who finally sells this to the consumer, is the retailer. This could be a trader in a weekly market, a hawker in the neighbourhood or a shop in a shopping complex.

It serves a great purpose as it is through these links of traders that goods reach faraway places. It provides employment to large number of people. Factories and producers need not to find their customer directly. It maintains flow of money in the society.

10. Why are things cheap in the weekly market?

Answer: Many things in weekly markets are available at cheaper rates. This is because when shops are in permanent buildings, they incur a lot of expenditure – they have to pay rent, electricity, fees to the government. They also have to pay wages to their workers. In weekly markets, these shop owners store the things they sell at home. Most of them are helped by their family members and, hence, do not need to hire workers. Weekly markets also have a large number of shops selling the same goods which means there is competition among them. If some trader were to charge a high price, people would move to another shop where the same thing may be available more cheaply or where the buyer can bargain and bring the price down.

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Riga (Rizhskiy) Market has one of the largest selections of flowers in Moscow. Local florists go to Riga Market to buy fresh flowers at wholesale prices............

SUNDAY UP MARKET

SUNDAY UP MARKET represents a unique Russian phenomenon in the fashion industry aimed at supporting talented Russian designers.............

Gorbushkin Mall

Gorbushkin Mall is one of the largest shopping venues in Russia selling home electronics and media devices.............

Tishinka Flea Market

Tishkinka Flea Market is a fair held approximately four times a year with a permanent location at Tishinka Shopping Mall.............

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• The Best Markets In Moscow

The Best Markets For Browsing In Moscow

Quirky curiosities, Soviet memorabilia, artisan crafts and gourmet street food; just a few of the things to buy at Moscow ‘s markets. A legacy of the Soviet era, they are a fantastic snapshot of Russian life and history and spill over with local color. We pick the best for browsing.

Izmailovsky Market

This cornucopia of curiosities brims with fascinating objects and exquisite local craftsmanship. Samovars, gramophones, fur hats, ancient coins, and even a bust of Stalin: the treasure trove that is Izmailovsky Vernisage knows no bounds. The hand-crafted products here are enchanting in the skill and beauty they display. Avoid the hiked-up prices for factory-made products at Moscow’s central souvenir shops and come to Izmailovsky for exquisite creations to meet the masters behind these objects. Venture out of the main Vernisage enclosure to explore the local art and hand-woven carpets on the second-floor wooden balcony. The nearby Izmailovo Kremlin is fascinating in its own right, with its fairground-style imitation of the Kremlin and museums of bread, vodka, and toys.

This farmers’ market is famed for being the place to find organic foodstuffs in Moscow . Danilovsky Market aims to provide the best of Russia’s farm-to-table produce. The meat, cheese, and jams here all hail from the local region, and the wafting scent of freshly baked bread is sure to set your stomach rumbling. Piles of fresh, exotic fruits teeter alongside dried fruits and nuts in rainbow towers. The witty and friendly traders from Russia and central Asia will entertain you with their tricks and dazzle you with their recommendations. The market occurs daily from around 8am to 8pm at 74 Muytnaya Street.

Novopodrezkovo Flea Market

On a busy day, this immense flea market hosts around 4,000 to 6,000 traders. Less well-known than its smaller brother, Izmailovsky, it has remained very much a typically Muscovite haunt and a local favorite. This means that Novopodrezkovo is virtually untainted by hiked-up tourist prices or manufactured souvenirs. For those lucky few foreigners in on the secret of Novopodrezkovo, there are bargains aplenty to be found. However, a visit to Novopodrezkovo is always a gamble: offerings can range from moth-eaten clothes and rusty tools to haute-couture and fabulous antiques. Fight through the hundreds of babushka laying out their Soviet-era wares to find some real treasures. Formerly located in the city center, the market has been moved a little further from the city and is open on weekends. Hop on the train to Novopodrezkovo at Moscow’s Leningradsky railway station or catch bus 370 from the Rechnoy Vokzal metro station to find the market by Novopodrezkovo station.

Bloshiny Rynok

For antique fanatics visiting Russia , Bloshiny Rynok is the place to come. Nowhere else in Moscow are there so many pre-Revolutionary items all jumbled together in one fascinating place. Shoes, clothes, and many household items, are gathered here, many of which date back to the early 20th century. Gramophones pump out vintage music to create an authentic atmosphere which makes for a perfect accompaniment to this time traveling expedition that’ll transport you back in history to a world of palaces, balls, carriages, and tsars. Check out the market’s facebook page to find out when the next market will be.

Gorbushka Electronics Market

Towering piles of bargain electronic goods fill this former television factory. An excellent spot to pick up second hand CDs, DVDs, video games, the Gorbushka market also sells electronic goods and household appliances, all at astonishingly low prices. The mind-boggling range of films, albums, and vintage vinyls means that, no matter your taste, you’ll be sure to find something at Gorbushka. The market’s origins lie in the park near the Gorbunov Palace of Culture. The park acted as a meeting ground for film and music enthusiasts who would come and swap records, but its immense popularity and rapid growth meant that the market had to move, eventually settling in a spacious warehouse by Bagrationovskaya metro station.

Sevastopol Hotel

An ethnic paradise, the exotic wares at this market inside the Sevastopol Hotel hail from India , Pakistan , and Afghanistan to name but a few. The wafting aroma of incense will draw you in, while the gleaming objects on show are sure to make you stay. The sorts of treasures available range from Middle Eastern jewelry, to silky hand-woven Oriental materials and expertly crafted toys. The master craftsmanship exhibited in each item is a sight to behold, and at eye-poppingly low prices. The market is best visited during the day-time on weekdays.

A showcase of the best of Moscow’s up-and-coming designers , Lambada bursts with creative talent. This artisan market is held at either Tsvetnoy Central Market or Strelka Art Institute around eight times a year and is a favorite with the city’s fashionable crowds who come here to keep ahead of the trend. Check out the best new designers as well as the most delicious gourmet street food here, which can range from crispy Lebanese falafel to exquisitely presented sushi.

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New York Stock Exchange tests views on round-the-clock trading

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Jennifer Hughes in New York

Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.

The New York Stock Exchange is polling market participants on the merits of trading stocks around the clock as regulators scrutinise an application for the first 24/7 bourse.

The survey by the NYSE , part of Intercontinental Exchange, was put out by its data analytics team rather than its management, but it highlights the growing interest in trading the likes of Nvidia or Apple overnight between 8pm and 4am Eastern time.

The issue has become a hot topic in recent years, prompted in part by the 24/7 operation of cryptocurrency trading and the rise in retail investor activity first spurred by coronavirus pandemic lockdowns.

Stock exchanges have become something of a laggard in a world where other big markets, including US Treasuries, major currencies and leading stock index futures, can be traded around the clock from Monday to Friday.

Several retail brokers, including Robinhood and Interactive Brokers, now offer 24-hour weekday access to US stocks with trades either matched with their internal holdings, or conducted via a “dark pool” trading venue such as Blue Ocean, where shares are often traded with Asian retail investors in their daytime.

An overnight exchange, however, would be a step-change in how late trading is perceived because of its heavy regulatory oversight compared with dark pools. Exchanges are directly supervised by the Securities and Exchange Commission and tested for their stability and security as well as needing approval to alter any rules.

Trades on exchanges also form part of the consolidated “tape” — the official record — of trading prices, meaning night-time activity would be more likely to set the early tone for regular hours trading.

NYSE’s survey asked respondents whether they thought round-the-clock trading should take place at weekends as well as through a five-day week, how investors should be protected from price swings, and how respondents would staff any overnight session.

It also asked whether people agreed that “time spent thinking about overnight trading would be better spent on regular market hour trading”.

The survey comes as start-up 24 Exchange, backed by Steve Cohen’s Point72 Ventures fund, is seeking SEC approval to launch the first round-the-clock exchange. The filing is the second attempt for 24X, which withdrew a proposal last year over operational and technical issues.

As of Friday, there were no letters raising issues with 24X’s latest proposal. The SEC has several months to scrutinise the plans.

“I have no idea how much volume they’re going to be doing in the middle of the night. But it’s really not up to the SEC to decide whether it’s commercially viable or not,” said James Angel, a finance professor at Georgetown University, who filed a letter supporting 24X’s plan.

“I’m in favour of letting the market decide. If it succeeds, we’re all better off and if it doesn’t, well, the exchange’s investors lost.”

The committee that oversees the consolidated tape has begun meeting, according to two sources, to examine the issues involved in shifting to 24-hour trading — including who should bear the costs. Clearing houses, which help settle trades, also operate within set hours.

Institutional interest in overnight trading has been muted because of the relatively poor liquidity on offer and concerns around settlement risk, among other issues.

Current night owl offerings only allow retail traders to put in “limit” orders where they state the price at which they would buy or sell. If that is not met, the order expires, unfilled, the next morning.

“There’s demand for 24-hour trading, but it's not necessarily from the entire marketplace,” said one institutional broker, who warned that basic staffing could prove another thorny issue.

“Things already happen outside regular hours and you need to keep on top of that to some degree — but that’s very different to something happening to, say, Apple at 2am or even 4pm on a Saturday. What do you do then?”

This article has been amended to clarify that Steve Cohen’s Point72 Ventures fund has invested in 24 Exchange

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Tesla cuts prices in China, Germany and around globe after US cuts

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Are Chinese electric vehicles taking over the world?

Tesla and other Western electric car manufacturers are facing stiff competition from China.

Western car makers, already bruised by the scramble among themselves for a share of the electric vehicle (EV) market, are facing a much more fearsome foe – China and its aggressive investment into the sector.

Tesla, perhaps the best-known of the EV manufacturers in Western markets, saw first-quarter sales down by 20 percent this year, compared with the same period in 2023, and its share price has slumped by more than 25 percent since the beginning of this year.

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According to experts, this is at least partially due to the emergence of a much more competitive landscape, with Xiaomi, originally a smartphone manufacturer which is has its headquarters in Beijing, launching its first EV – the SU7 – just a few weeks ago.

The competition from Chinese manufacturers has forced Western EV makers to sit up and take notice.

On a call with analysts in January this year, Tesla boss Elon Musk stated: “Our observation is, generally, that the Chinese car companies are the most competitive car companies in the world.”

“I think they will have significant success outside of China,” he added.

This was quite a change in tone from 2011 when he was asked about competition from BYD (Build Your Dream), China’s largest EV car manufacturer, on Bloomberg TV, and laughed in response. When asked by former Bloomberg anchor Betty Liu, “Why do you laugh?”, Musk mockingly replied: “Have you seen their cars? You don’t see them at all as a competitor. I don’t think they have a great product.”

How popular are Chinese EVs?

Chinese EVs already make up 60 percent of worldwide sales, according to International Energy Agency, a Paris-based energy consultant. Tesla and BYD have been battling it out for market share for the last couple of years.

According to market research firm TrendForce’s February 2024 report, Chinese manufacturers already hold three of the top five spots for global market share – with BYD at 17 percent, GAC Aion at 5.2 percent and SAIC-GM-Wuling at 4.9 percent. Tesla is clinging on to the top spot with a market share of 19.9 percent while German manufacturer Volkswagen is in the fifth spot with a market share of 4.6 percent. By comparison, Chinese manufacturers were responsible for just 0.1 percent of global EV sales in 2012 – just 12 years ago.

How do Chinese EVs compare in terms of safety?

According to 12365Auto, a Chinese website that monitors car quality using a system which counts the number of faults per 10,000 vehicles sold to quantify customer satisfaction, Tesla cars remain at the top and third spots (for different models of car) for the least amount of faults. However, the percentage difference in faults between Tesla and other Chinese EVs is marginal.

Are Chinese EVs much cheaper than Tesla et al?

Currently, some Chinese EV models are available to car consumers in Europe but not in the United States. The nearest country to the US where Chinese EVs are sold is Mexico – and they are somewhat cheaper.

The Dolphin Mini from Chinese manufacturer BYD costs $21,000 to buy in Mexico. The cheapest US equivalent, by comparison, would be the Nissan Leaf at $29,000 or the Chevrolet Bolt at about $27,000. In China, however, the Dolphin Mini costs just 69,800 yuan ($9,640) because of the competition from other Chinese manufacturers.

The price of a BYD Yuan Plus (sold as the Atto 3 outside of China), starts at 119,800 yuan ($16,550) both inside and outside China. While it can’t match those prices, Tesla is already pricing itself to compete with Chinese cars within China. Tesla’s Model Y, for example, starts at 258,900 yuan ($35,766) in China. In the US, it goes for $44,990.

The Xoaimi SU7 costs 215,900 yuan ($29,825) to buy in China – it is not yet available to buy outside the country. Tesla’s Model 3, by comparison, starts at $38,990 in the US.

Why are Chinese EVs so competitive?

The Chinese government heavily subsidises its EV sector, including offering large tax breaks for both consumers and manufacturers.

According to Adamas Intelligence, a Canadian independent research and advisory firm: “From 2024, Chinese buyers would not have to pay tax on a full electric vehicle that has a driving range of at least 200km (124 miles) per charge.”

In June last year, China introduced a 520 billion yuan ($71.8bn) package of sales tax breaks, to be rolled out over four years. Sales tax will be exempted for EVS up to a maximum of 30,000 yuan ($4,144) this year with a maximum tax exemption of 15,000 yuan ($2,072) in 2026 and 2027.

According to the Kiel Institute, a German think tank that offers consultation to China, the Chinese government has also granted subsidies to BYD worth at least $3.7bn to give the company, which recently reported a 42 percent decrease in EV deliveries compared with the fourth quarter of 2023, a much-needed boost.

Chinese EVs also tend to be cheaper than Western-made cars partly because much of the manufacturing process involved in producing car batteries is carried out by Chinese companies. Although the largest cobalt mine is in the Democratic Republic of Congo, in Africa, Chinese companies process the cobalt in those mines. In addition, China owns the third largest lithium mine in the world – in Yajiang, Southwest China’s Sichuan province. Both lithium and cobalt are essential raw materials needed to make the batteries that power EVs.

How are Western countries facing down the competition?

Western car manufacturers also receive some tax breaks from their governments for producing EVs.

The US Inflation Reduction Act, for example, which was signed into law in 2022, allows consumers to receive tax credits against purchases of new and used EVs, ranging from $3,750 to $7,500.

These tax credits are almost double and triple what is available to Chinese consumers but strict guidelines issued by the US Department of the Treasury in January of this year decreased the number of available EVs which qualify for these tax credits from 43 to just 19 vehicles manufactured by Ford, Telsa, GM, Hyundai, Kia, Volkswagen and Chrysler (with limitations to certain models).

The US government is also considering more extreme measures to blunt the momentum of Chinese EVs encroaching on the US car market, however.

In a bid to protect the US auto market, President Joe Biden’s administration is under pressure to increase import tariffs on Chinese electric vehicles. In a letter to the administration, Senators Gary Peters and Debbie Stabenow of Michigan and Sherrod Brown of Ohio, stated: “Allowing heavily subsidised Chinese vehicles to enter the US marketplace would endanger American automotive manufacturing.”

During Donald Trump’s presidency, his administration slapped an additional 25 percent tariff on Chinese cars. The US already applies a 2.5 percent “Most Favored Nation” (MFN) levy to all car imports. This would bring the total tariff to 27.5 percent for Chinese cars. In a March 2024 rally in Dayton, Ohio, former president and Republican presidential hopeful Donald Trump threatened even higher tariffs for Chinese cars being manufactured in Mexico.

“Those big monster car manufacturing plants you are building in Mexico right now and you think you are going to get that – not hire Americans and you’re going to sell the car to us, no,” Trump continued. “We are going to put a 100 percent tariff on every car that comes across the lot.”

The European Union levies a 10 percent tariff on all imported cars. This could open the door for more Chinese EVs in Europe because the current tariffs are lower than US tariffs.

However, during a roundtable meeting with Chinese companies in Paris last week, the European Commission raised the question of whether China’s EV market unfairly benefits from subsidies amid discussion about whether the EU should impose new tariffs on car manufacturers, including car manufacturers from China.

China’s Commerce Minister Wang Wentao rejected the notion that Chinese subsidies were unfair: “China’s electric vehicle companies rely on continuous technological innovation, perfect production and supply chain system and full market competition for rapid development, not relying on subsidies to gain competitive advantage.”

Are there security concerns about Chinese technology?

Last month, the US Department of Commerce said it is considering a probe into whether Chinese cars pose a national security risk.

In February, President Biden said in a statement addressing national security risks to the US auto industry: “China’s policies could flood our market with its vehicles, posing risks to our national security.”

He added: “Connected vehicles from China could collect sensitive data about our citizens and our infrastructure and send this data back to the People’s Republic of China. These vehicles could be remotely accessed or disabled. China imposes restrictions on American autos and other foreign autos operating in China.”

What does the future hold for EVs?

US EVs are not just facing competition from Chinese manufacturers. C osts still pose an obstacle to the wider adoption of EVs by consumers and petrol cars are still cheaper.

However, the raw materials to produce electric car batteries, such as nickel, lithium and cobalt, are becoming cheaper to mine. According to a March report from Goldman Sachs titled Electric Vehicles: What’s Next VII: Confronting Greenflation, the cost of battery packs account for 30 percent of total EV manufacturing costs. “We estimate that reductions in battery costs will bring this proportion down to a steady 15-20% percent during 2030-2040,” the report said.

Growth in the EV market is not just limited to the US, Europe and China. India has seen substantial growth in its EV market. According to the Federation of Automobile Dealers Associations (FADA), which is based in Delhi, between April 2023 and March 2024, the Indian EV car market saw a 91 percent year-over-year increase in car sales to 1.5 million last year. By comparison, the US sold 1.8 million and China sold eight million. Furthermore, Indian-made EVs are being exported. Stellantis, formed by a merger between Fiat Chrysler Automobiles and French PSA Group, recently launched EV exports from India under the Citroen brand. This week, the first 500 Citroen e-C3 models, which were manufactured in India, were shipped to Indonesia.

EVs are expected to rise in popularity. Research shows they are more environmentally friendly than their petrol counterparts, making these vehicles increasingly attractive to consumers. In a guide to electric vehicles, the US Environmental Protection Agency (EPA), states: “Some studies have shown that making a typical electric vehicle (EV) can create more carbon pollution than making a gasoline car. This is because of the additional energy required to manufacture an EV’s battery. Still, over the lifetime of the vehicle, total greenhouse gas (GHG) emissions associated with manufacturing, charging and driving an EV are typically lower than the total GHGs associated with a gasoline car.”

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Identities released for 2 killed at Market Square Fiesta event

Two officers fired their weapons after seeing valdez shoot at cisneros.

Julie Moreno , Executive Producer/Digital Content

SAN ANTONIO – The Bexar County Medical Examiner’s Office has identified two men killed in a shooting at a Fiesta event at Historic Market Square late Saturday night.

Mikey Valdez, 18, and Albert Cisneros Jr., 20, were killed just after midnight near a stage in the 100 block of Concho Alley.

According to a preliminary report from San Antonio police officials, two officers chased Valdez after hearing a gunshot and seeing him start running. The officers then shot Valdez after witnessing him shoot Cisneros, SAPD said. The medical examiner’s office said Valdez had multiple gunshot wounds. Officers recovered two guns at the scene near the men’s bodies.

Four bystanders, all women, were also shot at the scene, according to police. An SAPD spokesperson told KSAT that “two were transported with non-life-threatening injuries, and the other two were checked out and released at the scene.”

SAPD did not say whether the bystanders were hit by the suspects’ gunfire or by police gunfire.

Videos posted by witnesses showed people crouching and running during the chaos.

Copyright 2024 by KSAT - All rights reserved.

About the Author

Julie moreno.

Julie Moreno has worked in local television news for more than 25 years. She came to KSAT as a news producer in 2000. After producing thousands of newscasts, she transitioned to the digital team in 2015. She writes on a wide variety of topics from breaking news to trending stories and manages KSAT’s daily digital content strategy.

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