Question : Assertion: Market control involves using competition and market forces to regulate performance.
Reason: Market control ensures that organizations adapt to changing market conditions and customer demands.
Option 1: Both assertion and reason are true, and the reason correctly explains the assertion.
Option 2: Both assertion and reason are true, but the reason does not correctly explain the assertion.
Option 3: The assertion is true, but the reason is false.
Option 4: The assertion is false, but the reason is true.
Correct Answer: Both assertion and reason are true, and the reason correctly explains the assertion.
Solution : The correct answer is (a) Both assertion and reason are true, and the reason correctly explains the assertion.
This assertion is true. Market control is a form of control that relies on market competition and forces to influence and regulate an organization's performance. Market dynamics, including competition, can exert significant control over how organizations operate.
This reason is also true and correctly explains the assertion. One of the key purposes of market control is to ensure that organizations remain responsive to changing market conditions, customer demands, and competitive pressures. It achieves this by using these market forces to guide and regulate organizational behavior.
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