In Class 7 Social Science, students learn about how people carry out their work, earn a living, and trade with others within society. Economic Life Around Us addresses issues related to the production, exchange, and consumption of goods and services. The NCERT Solutions for this section of Class 7 Social Science is prepared according to the latest CBSE syllabus for Class 7 and guidelines, and help to make learning about the economy with school textbooks straightforward and easy to understand.
In the "Economic Life Around Us" section, students are introduced to basic concepts of the economy, such as money, markets, and trade. This engaging content presents how sellers, buyers, and producers interact with each other and how the economy works in everyday life. These Solutions for Class 7 Social Science will help prepare students for exam questions, including those from the CBSE, school, and Olympiads.
The NCERT Solutions for Class 7 Social Science - Economic Life Around Us is an excellent resource for learning how money, trade, and markets operate. Each NCERT Solution is written in simple language, accompanied by an explanation for every question. These solutions make revising easy and improve understanding of fundamental economic concepts. This can be used as a resource for learning in the CBSE or general social science studies.
Chapter 12: What are Markets?
This chapter is designed to clarify to students what markets are, how they work, and to establish costs. It explains the interactions between buyers and sellers in the exchange of goods and services. Students will learn about various markets, including visiting local stores, attending weekly markets, and utilising online markets to exchange goods and services. Students will learn the cost principles of supply and demand in setting prices for goods and services.
(Session 2026 - 27)