Grade 7 Reading Comprehension Worksheets - Free Printable

Problem Overview:

The task involves reading comprehension based on the article titled "The Real History of Black Friday." The goal is to understand the content and answer questions related to it. Since no specific questions are provided in your request, I will summarize the key points from the article and explain its main ideas.

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Summary of the Article:

#### 1. Current Understanding of Black Friday:
- Today, Black Friday is widely recognized as the day after Thanksgiving in the United States.
- It is associated with massive sales and the start of the holiday shopping season.
- The term "Black Friday" is often linked to the idea that stores go "into the black" (operate at a profit) after operating at a loss for most of the year.

#### 2. Misconception About the Term:
- The popular belief that "Black Friday" refers to stores making profits after a year of losses is a myth.
- This explanation makes for a good story but is not historically accurate.

#### 3. Origins of the Term:
- The term "Black Friday" originally referred to a financial crisis in the U.S. gold market on Friday, September 24, 1869.
- Two unscrupulous financiers, Jay Gould and Jim Fisk, attempted to corner the gold market, leading to a crash that caused economic turmoil.
- However, this historical event has no direct connection to the modern use of the term.

#### 4. Real History of Black Friday:
- The real history of Black Friday began in Philadelphia in the 1950s.
- Every year, the Army-Navy football game was held on the Saturday after Thanksgiving.
- On Fridays before the game, the city experienced heavy traffic, crowds, and opportunistic crime due to the influx of shoppers, tourists, and sports fans.
- The Philadelphia police used the term "Black Friday" to describe the chaos and difficulties they faced during this period.

#### 5. Efforts to Change the Term:
- In the early 1960s, there was an effort to rename the day "Big Friday" to emphasize the positive aspects of the weekend (e.g., profitable shopping).
- However, the term "Black Friday" stuck and eventually spread nationwide.

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Explanation of Key Concepts:

1. "In the Black" vs. "In the Red":
- In the Black: A business is operating at a profit.
- In the Red: A business is operating at a loss.
- The popular belief that Black Friday refers to stores going "into the black" after a year of losses is incorrect.

2. Historical Context of the Term:
- The term originated from a financial crisis in 1869, but this has no connection to the modern usage.
- The modern usage stems from the chaos in Philadelphia in the 1950s.

3. Cultural Shift:
- Despite efforts to change the term to "Big Friday," "Black Friday" became widely adopted and is now synonymous with the post-Thanksgiving shopping frenzy.

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Potential Questions and Answers:

#### Question 1: What is the popular belief about the term "Black Friday"?
- Answer: The popular belief is that "Black Friday" refers to the day when stores go "into the black" (operate at a profit) after operating at a loss for most of the year.

#### Question 2: Is the popular belief about "Black Friday" accurate?
- Answer: No, the popular belief is a misconception. The term does not originate from stores making profits after a year of losses.

#### Question 3: What is the real origin of the term "Black Friday"?
- Answer: The term "Black Friday" originally referred to a financial crisis in the U.S. gold market on Friday, September 24, 1869. However, its modern usage stems from the chaos in Philadelphia in the 1950s, where the term was used by police to describe the difficulties they faced on the day before the Army-Navy football game.

#### Question 4: Why did Philadelphia police call it "Black Friday"?
- Answer: Philadelphia police called it "Black Friday" because the day before the Army-Navy football game (held on the Saturday after Thanksgiving) was marked by heavy traffic, crowds, and opportunistic crime, making it a difficult day for law enforcement.

#### Question 5: Why was there an attempt to rename "Black Friday" to "Big Friday"?
- Answer: There was an attempt to rename it to "Big Friday" to emphasize the positive aspects of the weekend, such as profitable shopping. However, the term "Black Friday" persisted and became widely used.

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Final Answer:

The real history of Black Friday is rooted in the chaos experienced in Philadelphia in the 1950s, not in the financial crisis of 1869 or the idea of stores making profits after a year of losses. The term was initially used by police to describe the difficulties they faced on the day before the Army-Navy football game. Despite efforts to rename it, "Black Friday" stuck and evolved into a symbol of the post-Thanksgiving shopping season.

\boxed{\text{The real history of Black Friday is tied to the chaos in Philadelphia in the 1950s, not to financial profits or historical crises.}}