Balbharti Maharashtra State Board Organisation of Commerce and Management 12th Textbook Solutions

Chapter 8 Marketing Textbook Exercise Questions and Answers.

1. (A) Select the correct options and rewrite the sentence

Question 1.
The term market is derived from the ………………. word ‘mercatus’.
(a) French
(b) Latin
(c) Italian
Answer:
Latin

Question 2.
In the ………………. concept of market, emphasis is given on ‘buying and selling of goods or services’.
[a) Place
(b) Exchange
(c) Customer
Answer:
Exchange



Question 3.
Perishable goods such as vegetables, fruits, milk products, etc. are sold in ………………. Market
(a) Very Short Period
(b) Short Period
(c) Long Period
Answer:
Very Short Period

Question 4.
Retail market is the market where retailer sells goods directly to the ……………… in small quantities.
(a) producer
(b) wholesaler
(c) consumer
Answer:
consumer

1. (B) Match the pairs

Question 1.

Group A	Group B
(A) Market	(1) Single Seller
(B) Registered brands	(2) Stock Market
(C) Monopoly	(3) Distinct Name
(D) Branding	(4) Mercatus
(E) Digital	(5) Single Buyer
	(6) ISI
	(7) Trademark
	(8) Use of traditional media Marketing
	(9) Multiple seller
	(10) Use of digital media

Answer:

Group A	Group B
(A) Market	(4) Mercatus
(B) Registered brands	(7) Trademark
(C) Monopoly	(1) Single Seller
(D) Branding	(3) Distinct Name
(E) Digital	(10) Use of digital media

1. (C) Give one word/phrase/term for the following statements

Question 1.
The market for the commodities which Eire produced in one country and sold in other countries.
Answer:
International market

Question 2.
Type of market where durable commodities which are generally non-perishable in nature are sold.
Answer:
Long period Market

Question 3.
The market where goods Eire sold to the ultimate consumers or the users of the product.
Answer:
Retail Market

Question 4.
Two sellers, selling either a homogeneous product or a differentiated product.
Answer:
Duopoly

Question 5.
Giving of distinct name to one’s product.
Answer:
Branding

1. (D) State whether following the statements are True or False

Question 1.
The term market is derived from the Latin word ‘mercatus’.
Answer:
True

Question 2.
Market may be defined as aggregate demand by potential buyers for a product or service.
Answer:
True

Question 3.
The market for the commodities which are produced in one country and sold in another countries is known as national market.
Answer:
False



Question 4.
In wholesale market sellers are known as retailers and buyers are known as wholesaler.
Answer:
False

Question 5.
Regulated Market operates according to forces of demand and supply.
Answer:
False

1. (E) Find the odd one

Question 1.
Primary Market, Secondary Market, Retail Market, Terminal Market
Answer:
Retail Market

Question 2.
Stock Exchange, Foreign Exchange, Bullion Market, Manufactured Goods Market
Answer:
Manufactured Goods Market

Question 3.
Price, People, Promotion, Product
Answer:
People

Question 4.
People, Promotion, Physical Environment, Process
Answer:
Promotion

1. (F) Complete the sentences

Question 1.
……………. is the place where transaction of buying and selling of goods and services take place in exchange of money or money’s worth.
Answer:
Market

Question 2.
…………… refers to a market situation when there is a single buyer of a commodity or service.
Answer:
Monopsony

Question 3.
…………….. is a slip which is found on the product and provides all the information regarding the product and its producer.
Answer:
Label

1. (G) Select the correct option and complete the following table

(Mercatus, Industrial goods, Oligopoly, E. Jerome McCarthy, Booms & Bitner)

	Group A	Group B
1.	Commodity Market	————–
2.	————–	A few sellers
3.	——————	To trade merchandise
4.	4 Ps	————–
5.	————–	3 Ps

Answer:

	Group A	Group B
1.	Commodity Market	Industrial goods
2.	Oligopoly	A few sellers
3.	Mercatus	To trade merchandise
4.	4 Ps	E Jerome McCarthy
5.	Booms & Bitner	3 Ps