chain of market serves the purpose of producer and consumers. Because neither a producer can sell a small quantity of goods to an individual consumer nor an individual consumer can buy large quantity of goods from producers. So, wholesale traders, retailers, etc. are required to link the producers and consumers.
chain of market means a series of markets that are connected like links in a chain because products pass from one market to another. Goods are produced in factories, on farms and at home. The people in between the producers and the final consumer are the traders the wholesale trader first buys goods in large quantities, then they sell it to other traders. Buying and selling takes place between trader which helps good to reach faraway places. The trader who finally sells products to the consumers is the retailer. This is how they are interdependent
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Answer:
chain of market serves the purpose of producer and consumers. Because neither a producer can sell a small quantity of goods to an individual consumer nor an individual consumer can buy large quantity of goods from producers. So, wholesale traders, retailers, etc. are required to link the producers and consumers.
chain of market means a series of markets that are connected like links in a chain because products pass from one market to another. Goods are produced in factories, on farms and at home. The people in between the producers and the final consumer are the traders the wholesale trader first buys goods in large quantities, then they sell it to other traders. Buying and selling takes place between trader which helps good to reach faraway places. The trader who finally sells products to the consumers is the retailer. This is how they are interdependent