Tag: meaning and definition of market

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Multiple choice commercial studies concept of market and marketer meaning and importance of marketing meaning and definition of market introduction to marketing marketing environment meaning and definition of marketer role of marketing

What describes a process of continuously measuring results and comparing those results to optimal performance so that actual performance may be improved?

  1. Performance

  2. Capacity planning

  3. Benchmarking

  4. Data cleansing
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Benchmarking is the process of comparing one's business processes and performance metrics to industry bests or best practices from other companies to identify areas for improvement.

Multiple choice commercial studies marketing - concepts and functions meaning and importance of marketing meaning and definition of market concept of market and marketer

The following is the list of iron and steel plants located in various parts of  India
1) Vishakhapatnam
2) Bhadravati
3) Jamshedpur
4)Salem
5) Rourkela
6) Bokaro
7) Vijaynagar
8)Durgapur
Which one of the following represents iron and steel industries located outside the chotanagpur region?

  1. 1, 4, 7, 8

  2. 2, 3, 6, 7

  3. 1, 2, 4, 7

  4. 2, 5, 7, 8
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Vishakapatnam, Bhadravati , Salem and Vijayanagar are located outside the chotnagpur region,
Chotanagpur platean region has the maximum concentration of iron and steel Industries. It is because of low cost iron ore , high grade raw material in proxomity , cheap labour  and vast growth potential in the home market.

Multiple choice commercial studies concept of market and marketer meaning and importance of marketing meaning and definition of market introduction to marketing marketing environment meaning and definition of marketer role of marketing

Marketing is concerned with the creation of utilities.
I. Form utilities
II. Place utilities
III. Time utilities
IV. Possession utilities.

  1. I and III are correct

  2. I, II and IV are correct

  3. I, III and IV are correct

  4. All are correct
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Marketing creates value by providing Form utility (product features), Place utility (availability), Time utility (when needed), and Possession utility (transfer of ownership).

Multiple choice commercial studies concept of market and marketer meaning and importance of marketing meaning and definition of market introduction to marketing marketing environment meaning and definition of marketer role of marketing

Which of the following markets deals is valuable metals?

  1. Foreign exchange market

  2. Bullion market

  3. Stock market

  4. Manufactured goods market
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

The bullion market is a specialized market where precious metals like gold and silver are traded.

Multiple choice commercial studies concept of market and marketer meaning and importance of marketing meaning and definition of market introduction to marketing marketing environment meaning and definition of marketer role of marketing

Currencies of different countries are purchased and sold in.

  1. Money market

  2. Capital market

  3. Foreign exchange market

  4. Security market
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

The foreign exchange market (Forex) is the global marketplace for trading national currencies against one another.

Multiple choice commercial studies concept of market and marketer meaning and importance of marketing meaning and definition of market introduction to marketing marketing environment meaning and definition of marketer role of marketing

From the management point of view, 'Market' means.

  1. Place of business

  2. Merchandise

  3. The demand for a commodity

  4. A "social institution," performing the work of middlemen, transport, agency, warehousing etc.,
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

From a management and economic perspective, a market is not just a physical location but a social institution that facilitates the exchange of goods through various intermediaries like transporters, warehouses, and agents.

Multiple choice commercial studies concept of market and marketer meaning and importance of marketing meaning and definition of market introduction to marketing marketing environment meaning and definition of marketer role of marketing

A perfect market is?

  1. A Real concept

  2. A Psychological concept

  3. A Relative concept

  4. Only a theoretical concept
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

A perfect market is an idealized economic model that does not exist in reality, as real-world markets always have imperfections like transaction costs, information asymmetry, or barriers to entry.

Multiple choice commercial studies concept of market and marketer meaning and importance of marketing meaning and definition of market introduction to marketing marketing environment meaning and definition of marketer role of marketing

Which of the following markets is also known as 'Commodity exchange?"

  1. Manufactured goods market

  2. Capital market

  3. Produce exchange

  4. Money market
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

A commodity exchange is a market where raw materials or primary products are traded. These are often referred to as produce exchanges when dealing with agricultural goods.

Multiple choice commercial studies concept of market and marketer meaning and importance of marketing meaning and definition of market introduction to marketing marketing environment meaning and definition of marketer role of marketing

Every Market is?

  1. Perfect

  2. Imperfect

  3. Both (A) and (B)

  4. None of the above
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

In economic theory, perfect markets are theoretical models. Real-world markets are considered imperfect due to factors like information asymmetry, transaction costs, and limited competition.