5 Questions
What is the definition of a market?
A market consists of buyers and sellers with facilities to communicate with each other.
How is a market classified based on place or location?
A market can be classified as village markets, primary wholesale markets, secondary wholesale markets, terminal markets, or seaboard markets.
What are village markets?
Village markets are situated in a small village or 'taboan'.
Where are primary wholesale markets typically located?
Primary wholesale markets are located near the centers of agricultural production.
What are terminal markets?
Terminal markets are where the product is either finally disposed of to the consumers, processors, or assembled for export.
Test your knowledge on the definition and components of a market in the agricultural industry. This quiz will cover topics such as the role of buyers and sellers, communication facilities, and the concept of market as a geographic area. Sharpen your understanding of the agricultural marketing system with this informative quiz.
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