Explain how chain of markets is formed what purpose does it serves
Answers
Answer:
A chain market is formed by following ways-
1-Goods are produce in factory,on fa4ms and in houses.
2-Good s were sell in wholesale market.
3-Traders buy goods from the market in large quantities.
4-In these markets buying and selling can take place between traders
5-The producer and in the final comsumer trader plays main role.
Explanation:
I think that is helpfull to you.
Answer:
Chain of markets is a series of markets that are connected like links in a chain because products pass from one market to another.
(i) Vegetables are produced on farms.
(ii) The vegetable wholesale trader buys goods in large quantities.
(iii) These will then be sold to other traders.
(iv) Retailers took these vegetables to the market where consumer buy these.
Purpose it serve:
(i) Consumer can easily buy goods of far off places in the local markets.
(ii) Factories and producers need not to find their consumer directly.
(iii) It encourages production and new opportunities are created for people to earn.
(iv) Provides employment to the large numbers of people.