12th Commerce - Book Back Answers - Chapter 13 - English Medium Guides

  

 

Plus Two / 12th Commerce - Book Back Answers - Chapter 13 - English Medium

Tamil Nadu Board 12th Standard Commerce - Chapter 13: Book Back Answers and Solutions

    This post covers the book back answers and solutions for Chapter 13 – Commerce from the Tamil Nadu State Board 12th Standard textbook. These detailed answers have been carefully prepared by our expert teachers at KalviTips.com.

    We have explained each answer in a simple, easy-to-understand format, highlighting important points step by step under the relevant subtopics. Students are advised to read and memorize these subtopics thoroughly. Once you understand the main concepts, you’ll be able to connect other related points with real-life examples and confidently present them in your tests and exams.

    By going through this material, you’ll gain a strong understanding of Commerce Chapter 13 along with the corresponding book back questions and answers (PDF format).

Question Types Covered:

• 1 Mark Questions: Choose the correct answer, Fill in the blanks, Identify the correct statement, Match the following 
• 2 Mark Questions: Answer briefly 
• 3, 4, and 5 Mark Questions: Answer in detail

All answers are presented in a clear and student-friendly manner, focusing on key points to help you score full marks.

All the best, Class 12 students! Prepare well and aim for top scores. Thank you!

Chapter 13: Concept of Market and Marketer

I. Choose the correct answer.

1. One who promotes (or) Exchange of goods or services for money is called as.
a) Seller     
b) Marketer       
c) Customer             
d) Manager
Answer Key:
b) Marketer

2. The marketer initially wants to know in the marketing is .
a) Qualification of the customer         
b) Quality of the product
c) Background of the customers         
d) Needs of the customers
Answer Key:
d) Needs of the customers

3. The Spot market is classified on the basis of .
a) Commodity     
b) Transaction     
c) Regulation    
d) Time
Answer Key:
b) Transaction    

4. Which one of the market deals in the purchase and sale of shares and debentures?
a) Stock Exchange Market     
b) Manufactured Goods Market
c) Local Market             
d) Family Market
Answer Key:
a) Stock Exchange Market

5. Stock Exchange Market is also called _____________
a) Spot Market     
b) Local Market     
c) Security Market          
d) National Market
Answer Key:
c) Security Market

II. Very short answer questions.

1. What is Market?
Answer Key:

• The word market is derived from the Latin word ‘Marcatus’ which means trade, commerce, merchandise, a place where business is transacted.
• The common usage of market means a place where goods are bought or sold.

2. Define Marketer.
Answer Key:

• "A person whose duties include the identification of the goods and services desired by a set of consumers, as well as the marketing of those goods and services on behalf of a company". - Business Dictionary

3. What is mean by Regulated Market?
Answer Key:

• These are types of markets which are organized, controlled and regulated by statutory measures.
• Example: Stock Exchanges of Mumbai, Chennai, Kolkata etc.

4. What is meant by Spot Market?
Answer Key:

• In such markets, goods are exchanged and the physical delivery of goods takes place immediately.

5. What is meant by Commodity Market?
Answer  Key:

• A commodity market is a place where produced goods or consumption goods are bought and sold.
• Produce Exchange Market
• Manufactured Goods Market
• Bullion Market

III. Short answer questions.

1. What can be marketed in the Market? (any 3)
Answer Key:
Goods:

• Manufactured Goods are the main constituent of marketing endeavor in all the countries across the world.

Services:

• Not only physical goods can be marketed.

Experiences:

• The unique and varied experiences pertaining to a place or a park or an event can be marketed under this concept.

Ideas:

• An idea may change the world. Innovative and attractive ideas are the desirable products for the marketers to sell.
•  Social media marketing thrives on new ideas in a consistent manner.

Information:

• Information is the most valuable product that can be marketed today. 
• The data collected by an organization can be used as a product for this purpose.
• For eg., Information collected by libraries, research agencies, educational institutions, book publishers, broadcasting companies, internet, etc

2. Mention any three Role of Marketer?
Answer Key:
Instigator:

• As an instigator, marketer keenly watches the developments taking place in the market and identifies marketing opportunities emerging in the ever changing market.

Innovator:

• Marketer seeks to distinguish his products/ services by adding additional features or functionalities to the existing product

Implementer:

• Marketer plays a role of implementer when he/she actually converts marketing opportunities into marketable product with the help of several functional teams put in place in the organization.

3. Explain the types of market on the basis of time.
Answer Key:
Very Short Period Market:

• Markets which deal in perishable goods like, fruits, milk, vegetables etc.

Short Period Market:

• In certain goods, supply is adjusted to meet the demand.

Long Period Market:

• This type of market deals in durable goods, where the goods and services are dealt for longer period usages.

IV. Long answer questions.

1. How the market can be classified?
Answer Key:
On the basis of different approaches markets can be classified as follows:
 

I. On the basis of Geographical Area:

• Family Market
• Local Market
• National Market
• International Market or World Market

II. On the Basis of Commodities / Goods:

Commodity Market

• Produce Exchange Market
• Manufactured Goods Market
• Bullion Market

Capital Market:

• Money Market
• Foreign Exchange Market
• The Stock Market

III. On the Basis of Economics:

• Perfect Market
• Imperfect Market

IV. On the basis of transaction:

• Spot Market
• Future market

V. On the Basis of Regulation:

• Regulated Market
• Unregulated Market

VI. On the Basis of Time:

• Very Short Period Market
• Short Period Market
• Long Period Market

VII. On the Basis of Volume of Business:

• Wholesale Market
• Retail Market

VIII. On the Basis of Importance:

• Primary Market
• Secondary Market
• Terminal Market

2. How the market can be classified on the basis of Economics?
Answer Key:
Perfect Market:

• Large number of buyers and sellers are there.
• Prices should be uniform throughout the market.
• Buyers and sellers have a perfect knowledge of market.
• Goods can be moved from one place to another without restrictions.       

Imperfect Market:

• Products are similar but not identical.
• Prices are not uniform.
• There is lack of communication.
• There are restrictions on the movement of goods.

 

Prepared By:

 

B. MUTHUKUMAR 
PG ASST COMMERCE
MKVK MATRIC HR SEC SCHOOL 
TENKASI