"Markets play an important role between the producers, whole-sellers and the consumers ". Explain this statement along with different types of market that we find in Urban areas. Write an incident where you have faced the differences between these markets. 5 marks(3+2)
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"Markets play an important role between the producers, whole-sellers and the consumers ". Explain this statement along with different types of market that we find in Urban areas. Write an incident where you have faced the differences between these marketes.
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When goods are produced in a mass quantity, they can be obtained at lower price. Distribution helps to satisfy the needs of consumers by supplying assortment of different products of different producers. From this, efficiency can be achieved in both production and distribution.Wholesale markets therefore play a crucial role in the vertical coordination of food markets, equilibrating supply with demand and facilitating price formation. Their role reduces per unit marketing costs, promotes stable markets for local produce and encourages increased output and productivity.
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