Question

10. Who among the following sells goods at a higher price than the others in the chain of
markets?
a. Producer
b. factory owner
c. retailer
d. wholesaler​

Answer 1

Answer:

A retailer purchases goods from ______. (a) Wholesaler (b) Producer (c) Customer. Answer : A retailer purchases goods from wholesaler. ·

Answer 2

c. Retailer sells goods at a higher price than the others in the chain of markets.

Definition of retailer:

"A retailer purchases goods in large quantities from manufacturers, directly or through a wholesaler, and then sells in smaller quantities to consumers for a profit."

Retailers:

• The retailers are the end link in the supply chain who sell the product to the customers from the producers. Retail shops and markets have a history dating back to antiquity.
• In modern retail shops like shopping malls, various strategic levels are undertaken for customer attraction such as assortment of products, services for the customers, etc.
• They also market the products throug multiple market channels such as promotion, sales, prices, etc. It also includes delivery services, styling services, and several other supporting services.

"The Chain of markets refers to the event of exchange of goods that takes place from the time the goods are produced and reach the final consumer."