21 Questions
Products can be both tangible and intangible.
True
Market is a place but a medium of interaction between buyers and sellers of products.
False
On the market platform, buyers and sellers meet to exchange products and purchasing power guided by the market price
True
Market is important because it enables those with excess goods to sell them to those who need them at a price that gives everyone the best deal.
True
Market is not a place but a medium of interaction between buyers and sellers of products.
True
Producers Market is the most visible market to us consumers as we also partakes in its activities.
False
Resource Market enable raw material and intermediate product producers to sell their products to final product producers who are now the market buyers
False
Consumer Market is the most visible market to us consumers as we also partakes in its activities.
True
Resource Market enables resource owners to sell the basic services of labor, land and capital to producers of goods and services
True
Producers Market enable raw material and intermediate product producers to sell their products to final product producers who are now the market buyers
True
there are 4 kinds of market
False
The marketing is a situation of the diffused, impersonal competition among sellers, who compete to sell their goods, and among buyers, who use their purchasing power to acquire the available goods in the market.
False
Competition is rivalry among various buyers and sellers in the market
True
there are 3 types of COMPETITION
False
Monopolistic Competition is a type of PERFECT COMPETITION
False
Greater market power means greater ability to control prices and differentiate the products one offers for sale, thus leading to opportunities for more profits.
True
Demand is the willingness of a consumer to buy a commodity at a given price.
True
A demand schedule shows the various quantities the consumers are willing to buy at various prices.
True
The low price of the good serves to motivate the consumer to buy more.
True
Supply refers to the willingness of a consumer to buy a commodity at a given price
False
Supply refers to the quantity of goods that a seller is willing to offer for sale.
True
This quiz explores the concept of markets as a medium of interaction between buyers and sellers, as well as the nature of tangible and intangible products. It delves into the significance of markets in facilitating exchanges and providing the best deals for both sellers and buyers.
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