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Business Studies

Market

A market is a...

Question

A market is a medium through which buyers and sellers meet each other to fulfil their needs and wants.

A

False

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B

True

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Q. Write a word phrase or a term which can substitute each one of the following statements.
1. A place where buyers and sellers come together for buying and selling.
2. A commodity is anything that can be offered to market to satisfy a want or need.
3. When middlemen acts as a link between producer and seller, a chain formed is called
4. A combination of product, price, place and promotion in order to promote sales and satisfy needs of customers.
5. Business functions which directs flow of goods from producer to consumer.

'Market refers to the place, where buyers and sellers gather together to see different items displayed.' State true or false.

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