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Question
State whether the following statement is true or false:
The term market is derived from the Latin word ‘Mercatus’.
Options
True
False
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Solution
This statement is true.
Explanation:
The term market is derived from the Latin word ‘Mercatus’, which means ‘to trade’, ‘to trade merchandise’ or ‘a place where business is transacted’. In simple words, a market is a place where two or more parties are involved in buying and selling.
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RELATED QUESTIONS
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Answer the question.
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Write short notes on:
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The market may be defined as aggregate demand by potential buyers for a product or service.
Answer in one sentence.
Define Market.
Explain the following term/concept.
Place Concept of Market
Explain the following term/concept.
Digital Concept of Market
Define Marketing.
What is need for the market and explain the concept of marketing?
According to the modern marketing concept, which of the following statements is true?
Marketing is a ______ process by which people interact with others in order to persuade them to act in a particular way, say to purchase a product or service rather than forcing them to do so.
Which concept of marketing emphasise on availability and affordability of the product?
Explain the following function of marketing:
Grading
Find the odd one:
