Open system and closed system definition in environmental sciences
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An open system is that in which heat and magnitude both relate with environment.... and the system in which only heat exchange with atmosphere is called closed system
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In the modern marketing activities, the marketing research is the systematic gathering, recording, and analysis of useful information about the market for planning and growth of the business activity. It acts as a tool for accurate decision making regarding to marketing of goods and services.
Here, Market refers to the place or geographical area where buyers and sellers gather and enter into transactions involving transfer of ownership of goods and services. Definition of Marketing. Nature of Marketing. Scope/Functions of Marketing.
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