Explain how a chain of markets is formed. What purpose does it serve?
Goods are made in factories, as well as in farms and in homes. But we need not to move to factories or farms to purchase goods of our need, because they don't sell small quantities. The wholesale traders are the people who come in between the producer and the final consumer. They use to purchase goods in bulk. Then they sell them to the retailers, thus finally to the consumers. From the above explanation we can conclude that a chain is formed from factories to final consumers, which is known as chain of markets. It serves a goal. It continues the flow of money. It makes various items of our daily use easily accessible. It also increases society coordination.
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Goods are made in factories, as well as in farms and in homes. But we need not to move to factories or farms to purchase goods of our need, because they don't sell small quantities. The wholesale traders are the peop...
Step-by-step explanation:
• Goods are made in factories, as well as in farms and in homes
• But we need not to move to factories or farms to purchase goods of our need, because they don't sell small quantities
• The wholesale traders are the people who come in between the producer and the final consumer
• They use to purchase goods in bulk
• Then they sell them to the retailers, thus finally to the consumers
Students often lose marks by skipping steps, writing incomplete explanations, or misunderstanding keywords used in the question.
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