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Who is the middleman between the producer and the final consumer in a chain of markets?
- a)Wholesaler
- b)Retailer
- c)Consumer
- d)Producer
Correct answer is option 'A'. Can you explain this answer?
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Who is the middleman between the producer and the final consumer in a ...
Wholesalers act as intermediaries between producers and retailers by buying goods in bulk from producers and selling them in smaller quantities to retailers. This function is crucial in the distribution chain, enabling goods to reach various markets efficiently.
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Who is the middleman between the producer and the final consumer in a ...
Wholesaler
Wholesalers act as intermediaries between the producers and the final consumers in a chain of markets. They purchase goods in large quantities from producers and sell them to retailers in smaller quantities. Here is how wholesalers play a crucial role in the distribution process:
1. Bulk Purchases:
Wholesalers buy products in large quantities from producers, taking advantage of economies of scale. This helps producers in selling their products in bulk, reducing their inventory and storage costs.
2. Storage and Distribution:
Wholesalers store the products in warehouses before selling them to retailers. They ensure timely delivery of products to retailers, maintaining a constant supply chain.
3. Risk Management:
Wholesalers absorb the risk of holding inventory. They buy products from producers even if there is uncertainty in demand, helping producers to focus on production.
4. Market Information:
Wholesalers act as a source of market information for both producers and retailers. They provide feedback on consumer preferences, market trends, and competitor strategies.
5. Price Negotiation:
Wholesalers negotiate prices with producers to get the best deal. They also negotiate prices with retailers, ensuring competitive prices for consumers.
In conclusion, wholesalers play a crucial role in the distribution channel by bridging the gap between producers and final consumers. They facilitate the smooth flow of goods, provide market insights, and help in managing risks in the supply chain.
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Who is the middleman between the producer and the final consumer in a chain of markets?a)Wholesalerb)Retailerc)Consumerd)ProducerCorrect answer is option 'A'. Can you explain this answer?
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Who is the middleman between the producer and the final consumer in a chain of markets?a)Wholesalerb)Retailerc)Consumerd)ProducerCorrect answer is option 'A'. Can you explain this answer? for Class 7 2024 is part of Class 7 preparation. The Question and answers have been prepared according to the Class 7 exam syllabus. Information about Who is the middleman between the producer and the final consumer in a chain of markets?a)Wholesalerb)Retailerc)Consumerd)ProducerCorrect answer is option 'A'. Can you explain this answer? covers all topics & solutions for Class 7 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Who is the middleman between the producer and the final consumer in a chain of markets?a)Wholesalerb)Retailerc)Consumerd)ProducerCorrect answer is option 'A'. Can you explain this answer?.
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