Question

Explain how a chain of markets is formed? What purpose does it serve??
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Answer 1

Answer:

A chain of markets is formed when a number of traders supply goods from the producers to the consumers. We thus have wholesale markets where other dealers buy the goods in bulk. ... The chain serves the purpose of bringing the goods from the producers, who live in far off areas, to consumers in towns and cities.

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Answer 2

Question

explain how a chain of markets is formed ? What purpose does it serve ?

Answer

A chain of markets is formed in the following manner:

• Good are manufactured in factories, but people do not buy them directly from there.
• There are a lot of people who help bring manufactured goods from the factories to the consumer. These people are traders .
• Traders who buy goods directly from factories in the large quantities are called wholesale traders.
• wholesale traders sell goods to other traders who are called retailers.
• People buy goods from retailers .
• In this way, a chain of markets is setup that delivers goods from factories to us.

A chain of markets serves two very important purposes:

• It makes good easily available to us.
• It creates employment opportunities.