Which of the following statement(s) is/are correct?

Statement 1: A market refers to a physical place where buyers and sellers meet to exchange goods and services.

Statement 2: A market can also refer to a mechanism through which products and services are exchanged without the necessity of a physical meeting.

1. Only Statement 1 is correct
2. Only Statement 2 is correct
3. Both statements are correct
4. Both statements are false

In a consumer's market, goods are purchased for further production rather than for personal consumption.

1. True
2. False

Selling involves …………… of goods and services.

1. Distribution
2. Exchange
3. Advertisement
4. None of these

Which of the following is not the feature of marketing?

1. Exchange mechanism
2. Customer value
3. Corrective action
4. All of these