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प्रश्न
Which of the following statement(s) is/are correct?
Statement 1: A market refers to a physical place where buyers and sellers meet to exchange goods and services.
Statement 2: A market can also refer to a mechanism through which products and services are exchanged without the necessity of a physical meeting.
विकल्प
Only Statement 1 is correct.
Only Statement 2 is correct.
Both statements are correct.
Both statements are false.
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उत्तर
Both statements are correct.
Explanation:
Statement 1: The traditional definition of a market is a physical area where buyers and sellers meet to deal, such as a retail store, mall, or bazaar.
Statement 2: Modern economic meaning, which incorporates digital platforms and procedures (e.g., e-commerce websites or telephone trade) that allow transactions to take place without physical proximity.
