Directions: Answer the given question based on the following passage: With the…
2026
Directions: Answer the given question based on the following passage:
With the whole world having converged into one market—the barriers, of whatever kind they may be, cannot persist for long. They must make way for the natural market forces. It is these forces that will determine what will sell and what will not. It is these forces that will produce what consumers would want to consume. Only those who can read these forces will survive in the market. This market will not be local, but global. A successful entrepreneur has to dabble in this global market, in the international milieu, location notwithstanding. An individual’s traits and tenacity will, accordingly, be put to severe test. An institution can justify its existence only if it is able to hone and sharpen the skill of an individual to a level from where he or she can successfully dabble in international milieu. Several management schools are actually doing that while there are several others that are claiming to be doing that. We have set out on course to sift good from not-so-good.
Certain agencies examine these to provide necessary inputs on the mushrooming business schools so that one could take an informed decision on whether or not to choose them to hone entrepreneurial skill to enable them to dabble in any market. India is young. As part of that Young India and of the emerging economy, an academic stint with a quality institution, national or international, will expectedly give necessary tools to explore potential and develop market for India and Indian produce/services in the international arena and vice versa. This, in the process, will become an enabling conduit.
Interactive sessions with international clientele—which these B-schools should enable—will give an insight into the basic needs of market and people who buy services and products. While smiles of the satisfied customers are rewards in themselves, they will constantly goad market people to keep upgrading their level of services. Frowns of dissatisfied/querulous customers will be lessons on how to deal with fastidious customers. Taking this as a challenge, ways and means of how to bring smile on the faces of the most fastidious of them all could and should be devised. Success or failure of an enterprise will largely depend on this. While life is changing fast, customer needs are changing faster still. This calls for constantly upgrading marketing skills to meet the requirements of ever changing facets of present day clientele. Change being the only constant, need to continuously upgrade individual skills and fine-tune them to understand and master nuances is imperative.
What according to the author does not constitute natural market forces?
1. Forces that are part of the global market
2. Forces that determine the globalized economy
3. Forces that go by the consumers’ choice
- A.
1 only
- B.
1 and 2 only
- C.
1 and 3 only
- D.
2 and 3 only
Attempted by 116 students.
Show answer & explanation
Correct answer: B
Explanation:
The passage states that natural market forces are those that determine what will sell and what consumers want to consume. In other words, consumer choice is presented as the natural market force.
Forces that are part of the global market: This describes the market context (global market) rather than the specific force that determines demand. The passage does not identify the global-market context itself as the natural market force.
Forces that determine the globalized economy: This is a broad description of economic factors or outcomes, not the specific, immediate force the passage names. The passage focuses on what consumers want as the determining force.
Forces that go by the consumers’ choice: The passage explicitly describes consumer choice as the natural market force that decides what will sell.
Therefore, the statements describing the global market context and the forces shaping the globalized economy do not constitute the natural market forces named in the passage, while consumer choice does. Hence the correct answer selects the first two statements as those that do not constitute natural market forces.