Farhan, a young man, wants to provide employment to the local people of his village. He decided to do the wholesale business of mobile phones made by the latest technique. But so many questions began to crop up in his mind, how will the goods be brought from distant places, how will the finance be arranged , and how will the information on his modern business be conveyed to the people? He consulted a business expert, Mr. Balram who gave him information on the auxiliaries to trade , which could solve his problem. Farhan understood what the expert told him. He employed 50 workers and started his business. (a) Which economic activity is Farhan going to do? (b) On which part of business was the information given to Farhan by the business expert? (c) Explain the auxiliaries to trade which may solve the problem of Farhan, as suggested by the business.
Answers
Answer:
A) The wholesale business of mobile phone made by latest techniques.
B)On the questions which cropped up his mind.
C)First was -He can search for the no. of the mobile dealers who manufacture that type of mobiles which he wanted.
Second was -Finance,He may arrange by taking loan from the bank.
and third was-He could give advertisement of his shop in TV or make posters.
Wholesale business of Farhan
Explanation:
a)Farhan is going to do wholesale business of mobile phones made by the latest technique.
b)Mr. Balram, the business expert has given information about the wholesale trade. The wholesalers procure in bulk quantities and sell in small slots.
c)The auxiliaries to trade are buying of goods from distant places through transportation. Wholesalers purchase in bulk from manufacturer and transport their goods to warehouses. The wholesalers makes a significant contribution to the marketing process by the way of finance. Wholesalers provide marketing information to retailers and producers.
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Which economic activity is Farhan going to do?
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