Where the pleasure is only moderate? (7)
I believe the answer is:
funfair
'where the pleasure' is the definition.
The answer is a location as well as being a singular noun. This is suggested by the definition.
'only moderate?' is the wordplay.
'only' becomes 'fun' (I can't explain this - if you can you should believe this answer much more).
'moderate?' becomes 'fair' ('fair' can be similar in meaning to 'moderate').
'fun'+'fair'='FUNFAIR'
'is' is the link.
Can you help me to learn more?
(Other definitions for funfair that I've seen before include "place of amusement" , "Swings and roundabouts" , "Amusements here" , "entertainment for the family?" , "Amusement park" .)