The portion of agricultural produce which is sold in the market by the farmers is called:
marketed surplus
Understanding economic terms related to agricultural production and sales is crucial for comprehending the agricultural sector. The question specifically asks about the portion of agricultural produce that farmers sell in the market. Let's break down the options to find the most accurate term.
When farmers cultivate crops, not all of their harvest is consumed by their own household. A significant portion is often taken to the market for sale to consumers or traders. This specific part of their total agricultural produce that is offered for sale is known by a particular economic term.
The term that precisely describes the portion of agricultural produce which is sold in the market by the farmers is marketed surplus. It represents the residual output after meeting the farmer's own consumption needs (for their family, livestock, seeds for the next season, etc.). This surplus is then channeled into the market to generate income for the farmer.
Mathematically, marketed surplus can be expressed as:
\[ \text{Marketed Surplus} = \text{Total Farm Output} - \text{Farm Household Consumption} \]
This definition clearly aligns with the question's premise, which focuses on the produce specifically sold in the market.
Therefore, based on the definitions and the specific nature of the question, marketed surplus is the most accurate and appropriate term for the portion of agricultural produce sold by farmers in the market.
Arrange the following stages in the marketing process of an enterprise:
A. Marketing Mix
B. Marketing program implementation
C. Marketing planning
D. Market research
E. Control and evaluation of marketing programs
Choose thecorrectanswer from the options given below:
Statement (I): The mindset which is commonly associated with a long-ago era when the demand for goods generally exceeded the supply, and the primary focus in business was to effectively produce medium quantities of products; finding the customers was viewed as a relatively major function.
Statement (II) : The firms with product orientation typically focus on the quality and quantity of offerings while assuming that customers will seek out and buy reasonably priced well-made products.
From the above statements indicate the correct code of being statements correct or incorrect The statements relate to concepts of marketing.
After concept testing, a firm would engage in which of the following stage in developing and marketing a new product?
The ability to change human needs into wants is called
_______ believes that the consumers will favour those products that offer the best quality, performance and features and therefore the organisation should devote its energy to making continuous product improvements.