Commerce · Class 12 Commerce
Ch 13Concept of Market and Marketer — Class 12 Commerce, concept-first.
In everyday language, a "market" often brings to mind a physical place — a vegetable market, a cloth market, or a weekly village fair. In commerce and economics, the word carries a much wider meaning.
Key concepts
Hover a concept to preview it and jump to its most relevant Q&A.
Meaning and Features of a Market
A market is any arrangement, physical or otherwise, through which buyers and sellers come into contact to exchange a good, service, or asset at a mutually agreed price.
Most relevant Q&A
Chapter contents
The NCERT structure, section by section. Open a section to see its questions, then read the concept-first solution.
Meaning and Features of a Market
In everyday language, a "market" often brings to mind a physical place — a vegetable market, a cloth market, or a weekly village fair.
Classification of Markets
Because markets differ enormously in size, duration, competitive structure, and the nature of the deal struck, commerce classifies them along several independent dimensions.
Meaning and Role of a Marketer
A marketer is a person or an organisation that identifies the needs and wants of consumers and works to create, communicate, and deliver an offering — a product, a service, or even an idea — that sati…
Distinction Between Market and Marketing
Students commonly confuse "market" and "marketing" because the two words look related and are used together constantly in commerce.
Key Functions of a Marketer
A marketer performs a connected set of functions, each of which contributes to moving a good or service from the point of production to the point of final consumption, in a form, at a place, and at a…
Sample & Board Papers
Sample papers and previous-year board questions for this subject.
+−Show 11 questionsHide questions11 questions
- Q1Facilitating functions do not include ________. (a) Packing (b) Financing (c) Market information (d) TransportationPreview
- Q2What is Market?Preview
- Q3Who is supreme in the market ? (a) Wholesaler (b) Customer (c) Retailer (d) SellerPreview
- Q4What is meant by Spot Market and Future Market ?Preview
- Q5(a) Explain how the Market can be classified on the basis of Economics. OR (b) Explain how consumers are exploited.Preview
- Q6The marketer initially wants to know in the marketing is ______. (a) Background of the customers (b) Qualification of the customers (c) Need…Preview
- Q7What do you mean by Auctioning ?Preview
- Q8Who is Supreme in the market ? (a) Wholesaler (b) Customer (c) Retailer (d) SellerPreview
- Q9What is meant by Grading ?Preview
- Q10Mention any three roles of a Marketer.Preview
- Q11(a) How the market can be classified on the basis of Economics? OR (b) Explain the role of business in consumer protection. (any 5)Preview
More questions
12 Q+−Show 3 questionsHide questions3 questions
+−Show 5 questionsHide questions5 questions
- Q3State any four essential features of a market.Free
- Q4Classify markets on the basis of area, with one example of each.Free
- Q5Distinguish between a spot market and a forward market.Preview
- Q6What is meant by a market-period (very short-period) market? Give an example.Preview
- Q11Distinguish between a wholesale market and a retail market.Preview
+−Show 4 questionsHide questions4 questions
- Q7Explain the classification of markets on the basis of the nature of competition, with the main features of each type.Free
- Q8Distinguish between market and marketing, bringing out at least four points of difference.Free
- Q9Explain the important functions performed by a marketer.Preview
- Q10"A market is a place, but marketing is a process." Examine this statement, and explain how the role of a marketer connects the two.Preview