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Question (31)

QN0024412

A shopkeeper notices that 300 packets of biscuits are sold every week. What is the most sensible decision for the next week?

(A) Stop stocking biscuits.
(B) Keep approximately the required quantity in stock.
(C) Double the price immediately.
(D) Sell only imported biscuits.

Correct Answer: B

Explanation:

Sellers estimate future demand using previous sales.

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Question (32)

QN0024413

Which of the following best explains why buyers and sellers negotiate in a market?

(A) To delay the transaction unnecessarily
(B) To arrive at a mutually acceptable price
(C) To increase taxes
(D) To reduce product quality

Correct Answer: B

Explanation:

Negotiation helps both parties agree on a fair price.

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Question (33)

QN0024414

A family wants to buy groceries immediately after checking the products physically before paying. Which market is most suitable?

(A) International market
(B) Physical market
(C) Stock market
(D) Export market

Correct Answer: B

Explanation:

Physical markets allow direct inspection of goods.

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Question (34)

QN0024415

Which of the following correctly matches the participant with the main function?

(A) Retailer – Manufactures products
(B) Wholesaler – Buys goods in bulk from producers
(C) Consumer – Stores goods in warehouses
(D) Producer – Delivers online orders to customers

Correct Answer: B

Explanation:

Wholesalers purchase goods in large quantities from producers.

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Question (35)

QN0024416

A clothing factory sends thousands of shirts to an online shopping company's warehouse before customers place orders. Why is this done?

(A) To make production slower
(B) To enable faster delivery after orders are received
(C) To increase manufacturing cost
(D) To avoid selling the shirts

Correct Answer: B

Explanation:

Warehouses help ensure quick delivery.

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Question (36)

QN0024417

A seller finds that very few customers buy his product at ₹90, while many buy it at ₹60. Which price is more likely to continue in the market over time?

(A) ₹90 only
(B) ₹60 or another mutually acceptable price near it
(C) ₹150
(D) ₹0

Correct Answer: B

Explanation:

Market prices settle where buyers and sellers agree.

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Question (37)

QN0024418

Which statement best explains why markets connect people besides buying and selling?

(A) They only collect taxes.
(B) They enable interaction, exchange of traditions and ideas.
(C) They only manufacture goods.
(D) They replace all social activities.

Correct Answer: B

Explanation:

Markets also connect people and cultures.

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Question (38)

QN0024419

A retailer sells products only to shopkeepers who will resell them. Which statement is correct?

(A) This is correct retailing.
(B) Retailers normally sell to final consumers, so this situation is unusual.
(C) Retailers manufacture goods.
(D) Retailers export goods.

Correct Answer: B

Explanation:

Retailers mainly sell directly to consumers.

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Question (39)

QN0024420

Which of the following transactions takes place entirely within India's geographical boundaries?

(A) India imports crude oil from another country.
(B) An Indian paper mill supplies paper to a publisher in India.
(C) India exports pharmaceuticals to Africa.
(D) A company in India sells software to another country.

Correct Answer: B

Explanation:

Transactions within the country are part of the domestic market.

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Question (40)

QN0024421

A customer has two choices: buy a book from a nearby bookstore or order it online. Which statement is correct?

(A) Only the bookstore is a market.
(B) Only the online website is a market.
(C) Both are markets because both enable buying and selling.
(D) Neither is a market.

Correct Answer: C

Explanation:

Markets may be physical or online, provided they facilitate buying and selling.

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Question (31)

A shopkeeper notices that 300 packets of biscuits are sold every week. What is the most sensible decision for the next week?

Explanation:

Link:

Question (32)

Which of the following best explains why buyers and sellers negotiate in a market?

Explanation:

Link:

Question (33)

A family wants to buy groceries immediately after checking the products physically before paying. Which market is most suitable?

Explanation:

Link:

Question (34)

Which of the following correctly matches the participant with the main function?

Explanation:

Link:

Question (35)

A clothing factory sends thousands of shirts to an online shopping company's warehouse before customers place orders. Why is this done?

Explanation:

Link:

Question (36)

A seller finds that very few customers buy his product at ₹90, while many buy it at ₹60. Which price is more likely to continue in the market over time?

Explanation:

Link:

Question (37)

Which statement best explains why markets connect people besides buying and selling?

Explanation:

Link:

Question (38)

A retailer sells products only to shopkeepers who will resell them. Which statement is correct?

Explanation:

Link:

Question (39)

Which of the following transactions takes place entirely within India's geographical boundaries?

Explanation:

Link:

Question (40)

A customer has two choices: buy a book from a nearby bookstore or order it online. Which statement is correct?

Explanation:

Link:

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