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Marketing Awareness Multiple Choice Questions with Answers - GkSeries

Questions
21 ISI mark is not given to which of the following products?
A Cloth
B Biscuits
C Hosiery goods
D Electrical goods

Answer: Option [B]

The correct answer is Biscuits. ISI mark is a certification mark for industrial products in India, which is mandatory for certain products to be sold in India, like most of the electrical appliances viz; switches, electric motors, wiring cables, heaters, kitchen appliances etc., and other products like portland cement, LPG valves, LPG cylinders, automotive tyres.

22 The size of the market for a product refers to
A The number of potential buyers of the product
B The volume of potential sales of the product
C The geographical area served by the producers
D The number of people in the given area

Answer: Option [A]

The size of the market for a product refers to the number of potential buyers of the product. In economics markets does not require to be a physical place like vegetable markets. Markets are where there are potential buyers and sellers are buying and selling of goods and services is done. The size of the market depends on the buyers more the buyers larger is the size of the market.

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23 What is ‘AGMARK’?
A It stands for agricultural marketing
B It represents agricultural management and regulation
C It is marketing seal issued on the graded agricultural commodity
D None of these

Answer: Option [A]

The correct answer is It stands for agricultural marketing. AGMARK is a certification mark for agricultural produce, assuring that they conform to a grade standard notified by Directorate of Marketing & Inspection (DMI), Department of Agriculture, Cooperation and Farmers Welfare, Ministry of Agriculture & Farmers Welfare under Agricultural Produce (Grading Marking) Act, 1937.

24 AGMARK is a guarantee of standard:
A Size
B Weight
C Quantity
D Quality

Answer: Option [D]

AGMARK is a guarantee of standard Quality. Agmark symbol is used to approve the quality of agricultural products. Agmark is a certification mark employed on agricultural products in India, assuring that they adhere to a set of standards approved by the Directorate of Marketing and Inspection.

25 The expenses on advertising is called
A Fixed cost
B Surplus cost
C Selling cost
D Implicit cost

Answer: Option [C]

The expenses on advertising is called Selling cost. Selling cost is total cost of marketing, advertising, and selling a product. It differs from the production cost which is incurred to produce goods. Selling cost influences the commercial desire to purchase a commodity.

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