UGC NET Commerce Q40

Question

Statement (I): The mindset which is commonly associated with a long - ago era when the demand for goods generally exceeded the supply, and the primary focus in business was to effectively produce medium quantities of products; finding the customers was viewed as a relatively major function.
Statement (II): The firms with product orientation typically focus on the quality and quantity of offerings while assuming that customers will seek out and buy reasonably priced, well made products.
From the above statements indicate the correct code of being statements correct or incorrect The statements relate to concepts of marketing.