Question

Make notes or write a summary of the following passage.

The buying and selling of commodities is termed as trade.

People who buy and sell things are called traders. Finished products

are bought by traders and sold in markets. People who buy and sell

large quantities of commodities are called wholesale merchants.

People who buy and sell small quantities are called retailers. When

there is surplus of commodities, there is a fall in price. When there

is deficit in commodities, there is a rise in price. The Government

supplies essential commodities like rice, dhal, sugar and oil through

fair price shops. The Government has taken several steps to control

price rise through the enforcement of laws. When there is a

shortage of commodities, the Government imports them from other

countries and distributes them through fair price shops.​

Answer 1

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