Question

What do you understand by ‘Weekly Market’?

Hint:

Weekly markets are common in rural India and act as both trade and social hubs.

Answer 1

Step 1: Define weekly market.
A weekly market is a traditional market system that takes place on a fixed day of the week, usually in rural or semi-urban areas.

Step 2: Features.
\begin{itemize} \item Provides essential goods like grains, vegetables, clothes, tools, etc. \item Brings together buyers and sellers from surrounding villages. \item Promotes social interaction and cultural exchange. \item Works on barter and cash transactions. \end{itemize}

Step 3: Importance.
Weekly markets ensure availability of goods at low prices and strengthen local economies.

Step 4: Conclusion.
Thus, a weekly market is both an economic and social institution.

Final Answer: \[ \boxed{\text{Weekly Market = periodic rural market held once a week}} \]