Markets Around Us Test

Result

Markets Around Us Test - 4

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Weekly Quiz Competition

Question 1
1 / -0

Which of the following is a feature of malls?

A
Air-conditioned buildings

B
Multi-storeyed buildings

C
Shops on different floors

D
All of the above

Solution

A mall is a place which has multi-storey buildings and each building has various shops of different items like clothing, cosmetics, crockery, toys, etc. The Malls are Air Conditioning with lifts and escalator which are for the convenience of people. There are parking facilities and several other facilities for entertainment.
Question 2
1 / -0

Which of the following is/are the characteristic(s) of a mall?

A
It is an enclosed shopping space.

B
It is usually a large building with many floors that have shops.

C
It also consists of restaurants and even a cinema theatre.

D
All of the above

Solution

Following are the characteristics of a mall:-
1. It is an enclosed shopping space.
2. It is large multi-storeyed air-conditioned building.
3. It has shops on different floors.
4. It also consists of restaurants and even a cinema theatre.
5. It sells both branded and non-branded goods.
Question 3
1 / -0

Who are those retailers which have fixed business premises and operate through unit stores or small shops located in residential areas or markets?

A
Middlemen

B
Wholesalers

C
Large-scale retailers

D
Small-scale retailers

Solution

Small-scale retailers are those retailers which have fixed business premises and operate through unit stores or small shops located in residential areas or markets. They mainly include small shops on the roadside, general stores etc. They sell a limited variety of products for regular use like stationery, grocery, etc. They also provide services like goods on credit and home delivery to their customers.
Question 4
1 / -0

Which among them is the feature of chain market?

A
What is produced in one place reaches the people everywhere

B
Only brand products are encouraged

C
Chain markets are only in urban areas

D
None of them

Solution

Advantages of chain market are as follows:-
1. Things produced in one place reach people everywhere.
2. It creates employment opportunity.
3. It encourages people to produce more goods and services.
Question 5
1 / -0

Which of the following is an example of shops in neighbourhood ___________.

A
Dairy

B
Departmental store

C
Pharmacy

D
All of the above

Solution

The example of shops in neighbourhood is dairy, groceries from departmental stores, pharmacy, stationery, eatables, fruit vendors, vegetable hawkers etc.
Question 6
1 / -0

Goods are produced in ________.

A
Factories

B
Farms

C
Homes

D
All of the above

Solution

Goods that we purchase from the market are produced in factories, farms and in homes. However, we don't buy the goods directly from the factories or from the farm. We purchase the goods from the traders who buy the goods from factories and farms.
Question 7
1 / -0

What is/are the advantage(s) of shops in neighbourhood?

A
They are near to our home and we can go there on any day of the week.

B
Usually, the buyer and seller know each other and these shops also provide goods on credit.

C
Both A and B

D
None of these

Solution

Having shops in the neighbourhood are of great advantage. We do not have to travel far places to buy necessities, people develop interaction with the sellers and often purchase goods on credit, upon which seller agrees because of the presence of the buyer in the vicinity.
Question 8
1 / -0

What does FMCG stand for?

A
First Moving Consumer Goods

B
Fast Moving Convenience Goods

C
Fast Moving Consumer Goods

D
Fast Moving Collateral Goods

Solution

Fast Moving Consumer Goods (FMCG) goods are popularly named as consumer packaged goods. Items in this category include all consumables (other than groceries/pulses) people buy at regular intervals. The most common in the list are toilet soaps, detergents, shampoos, toothpaste, shaving products, shoe polish, packaged foodstuff, and household accessories and extends to certain electronic goods. These items are meant for daily or frequent consumption and have a high return for the manufacturing company.
Question 9
1 / -0

Who may be defined as the middlemen that operate between the producers and the retailers?

A
Manufacturer

B
Brokers

C
Wholesaler

D
Customer

Solution

A wholesaler may be defined as the middlemen who operate between the producers (from whom they purchase goods) and the retailers (to whom they sell goods). Wholesaler refers to any individual or business firm selling goods in relatively large quantities to buyers (retailers) other than the ultimate consumers. Thus the manufacturers who sell their products directly to retailers may also be regarded as wholesalers.
Question 10
1 / -0

Why according to the modern view of marketing is Customer the King?

A
Because marketing is essentially sensing and satisfying the needs and wants of the customer.

B
Because marketing is essentially creating needs and wants for the customer.

C
Because marketing is essentially selling as many products as possible to the customer.

D
Because marketing is essentially producing the cheapest alternative to satisfy the customers wants and needs.

Solution

Marketing means sale and purchase of goods and products. Earlier the products were made keeping in mind the generality of the use and customers used to buy such products and bring them into use to avail their productivity. . According to the modern view of marketing, a producer or a manufacturer needs to understand the needs and wants of the customer. It relies on sensing, increasing, servicing and satisfying the needs and wants of the customer, both current and potential. As the customer is the focus of this entire process in the modern view, he is the 'King'.

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Re-Attempt Weekly Quiz Competition

Markets Around Us Test - 4

Result

Markets Around Us Test - 4

Score

-

Rank

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SHARING IS CARING

Question 1

Air-conditioned buildings

Multi-storeyed buildings

Shops on different floors

All of the above

Solution

Question 2

It is an enclosed shopping space.

It is usually a large building with many floors that have shops.

It also consists of restaurants and even a cinema theatre.

All of the above

Solution

Question 3

Middlemen

Wholesalers

Large-scale retailers

Small-scale retailers

Solution

Question 4

What is produced in one place reaches the people everywhere

Only brand products are encouraged

Chain markets are only in urban areas

None of them

Solution

Question 5

Dairy

Departmental store

Pharmacy

All of the above

Solution

Question 6

Factories

Farms

Homes

All of the above

Solution

Question 7

They are near to our home and we can go there on any day of the week.

Usually, the buyer and seller know each other and these shops also provide goods on credit.

Both A and B

None of these

Solution

Question 8

First Moving Consumer Goods

Fast Moving Convenience Goods

Fast Moving Consumer Goods

Fast Moving Collateral Goods

Solution

Question 9

Manufacturer

Brokers

Wholesaler

Customer

Solution

Question 10

Because marketing is essentially sensing and satisfying the needs and wants of the customer.

Because marketing is essentially creating needs and wants for the customer.

Because marketing is essentially selling as many products as possible to the customer.

Because marketing is essentially producing the cheapest alternative to satisfy the customers wants and needs.

Solution

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