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WAEC Marketing 2016 Question 1

Question 1

Marketing Concept

The term exchange in marketing means

  1. A.buying of goods.
  2. B.buying and selling of goods.
  3. C.selling of goods.
  4. D.buying and distribution of goods.
Show the answer and explanation

Answer: B (buying and selling of goods.)

Explanation

Exchange is the act of getting something from someone by giving something in return, i.e. buying and selling.