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Question
On the basis of geographical area, market is classified into ______.
Options
In-house market
Regional market
Primary market
Spot market
MCQ
Fill in the Blanks
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Solution
On the basis of geographical area, market is classified into regional market.
Explanation:
Markets can be classified based on geographical areas, such as local, regional, national, and international markets. A regional market specifically refers to a market that covers a particular region or area, serving the consumers within that geographical boundary. This classification helps businesses target their marketing efforts more effectively based on the location of their customers.
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