2. Explain why the retail price of a product is higher than its wholesale price.
Answers
Answer:
Retail price is higher than wholesale price because wholesalers buy very large quantities and retail sales are for fewer units, due to which this difference in price is the profit for the wholesaler.
Answer:
Retail price is higher than wholesale pricebecause wholesalers buy very large quantities and retail sales are for fewer units, due to which this difference in price is the profit for the wholesaler.
well the difference between wholesale and retail sales :
●The wholesale price is the rate charged by the manufacturer or distributor for an item, while the retail price is the higher rate you charge consumers for the same product.
●In wholesale market products are directly come from factories thats why the prices are low whereas in retail market product has to cross several junction and at each junctions, tax is added therefore prices of products in retail market is higher as compare towholesale market