NCERT Class 7 Social Science Exploring Society India and Beyond Part-I (Sanskrit): Chapter 12 — विपण्यः अवबोधः
This chapter, "विपण्यः अवबोधः" (Understanding Markets) from NCERT Class 7 Social Science, explores the concept of markets and their role in society. It begins by defining markets as places where goods and services are bought and sold, especially when individuals cannot produce everything they need themselves, citing economist Adam Smith. The chapter poses key questions about the nature and function of markets, their importance in people's lives, the government's role in regulating them, and how consumers can evaluate the quality and price of goods and services. It also touches upon the economic activities that lead to the availability of various items like vegetables, fruits, clothes, and electronics, which students have learned about in previous classes. The text emphasizes that understanding how these goods reach us is crucial for comprehending our economic life. This chapter aims to provide students with a foundational understanding of market dynamics and their significance in the Indian economy.
Quick info
| Board | CBSE / NCERT |
|---|---|
| Class | Class 7 |
| Subject | Social Science |
| Book | Exploring Society India and Beyond Part-I (Sanskrit) |
| Chapter | Chapter 12 — विपण्यः अवबोधः |
| Language | Sanskrit |
| PDF type | NCERT Textbook |
| Session | CBSE 2026 |
| Reading time | 1 minute |
| Word count | 101 |
Learning outcomes
- Define what markets are and how they function.
- Understand the role of markets in people's lives.
- Identify the government's role in markets.
- Learn how consumers can evaluate purchased goods and services.
Vocabulary
| Word | Meaning |
|---|---|
| विपण्यः | Markets |
| आवश्यककानां | Necessary |
| वस्तूनां | Goods |
| सेवांनाञ्च | And services |
| उत्पादने | Production |
| असमर्थाः | Unable |
| भूमि�का | Role |
| सर्वकारस्य | Of the government |
| उपभोक्तारः | Consumers |
| क्रीतानां | Purchased |
| गुणवत्तायाः | Of quality |
| मूल्याङ्कनं | Evaluation |
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Practice questions
- विपण्यः काः सन्ति? Answer: यदा जनाः आवश्यकानां वस्तूनां सेवानाञ्च स्वयम् उत्पादने असमर्थाः भवन्ति तदा विपण्यः जायते।
- जनानां जीवने विपण्यः भूमिका का? Answer: विपण्यः जनानां आवश्यकतायाः वस्तूनां सेवानाञ्च प्राप्तेः भूमिकां निर्वहन्ति।
- उपभोक्तारः कस्मात् कारणात् वस्तूनां मूल्याङ्कनं कर्तुं शक्नुवन्ति? Answer: उपभोक्तारः क्रीतानां वस्तूनां सेवानां च गुणवत्तायाः मूल्याङ्कनं कर्तुं शक्नुवन्ति।
Frequently asked questions
What is a market according to the chapter?
A market arises when people are unable to produce all the necessary goods and services themselves.
What is the role of markets in people's lives?
Markets play a role in providing people with necessary goods and services.
What key questions does the chapter raise about markets?
The chapter raises questions about what markets are, how they function, their role in life, the government's role, and how consumers can evaluate products.
What economic activities are related to markets?
Markets are the result of primary, secondary, and tertiary economic activities that make goods and services available.
Who was Adam Smith mentioned in relation to markets?
Adam Smith, an economist from the eighteenth century, is quoted regarding the origin of markets.
Related resources
Important topics
Topics covered
NCERT Class 7 Social Science — Exploring Society India and Beyond Part-I (Sanskrit) — Chapter 12 — विपण्यः अवबोधः. Verified by NCERT Help Editorial Team. Reviewed on 29 Jul 2026. Last updated 10 Aug 2026.