A market is a place where buyers and sellers get into a transaction to buy or sell a product or service.

True

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False

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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.

A marketer must appreciate that a buyer does not buy a product or service for its own sake but rather what the product or service offers him or does for him. State true or false.

A ________ is the set of actual and potential buyers of a product or service.

State True or False. E-business helps the seller to access the global market, and on the other hand for the buyers a freedom to choose products from almost any part of the world.

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