Question : It refers to a policy of replacement or substitution of imports by domestic production.
Option 1: Industrial policy
Option 2: Industrial licensing
Option 3: Foreign trade policy
Option 4: Import substitution
Correct Answer: Import substitution
Solution : Import substitution refers to a policy of replacement or substitution of imports by domestic production. Hence Option D is correct.
Question : Which function of marketing is highlighted in the given statement? Statement: It fills this place by carrying good from place of production to place of consumption.
Option 1: Gathering and analysing market information
Option 2: Product designing and development
Option 3: Packaging and labelling
Option 4: Transportation
Question : It fills the gap by carrying goods from place of production to place of consumption. Which function of marketing is highlighted in the given statement?
Option 1: Customer support service
Option 2: Transportation
Option 3: Physical distribution
Option 4: None of the above
Question : Which function of marketing is highlighted in the given statement? Statement: The need for it rises because there is a time gap between production and consumption of goods.
Option 1: Physical distribution
Option 3: Transportation
Option 4: Storage or warehousing
Question : Which feature of marketing is highlighted in the given statement? Statement: It aims to identify unsatisfied needs of the target customers and developed production services that satisfy such needs.
Option 1: Marketing
Option 2: Customer value
Option 3: Creating a market offering
Option 4: Exchange mechanism
Question : What is the significance of the iron and steel industry?
Option 1: It is used in the production of textiles
Option 2: It is a major component in construction and manufacturing
Option 3: It is primarily used in agriculture
Option 4: It has no significant industrial use
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