Q.Distinguish between a wholesale market and a retail market.

Wholesale and retail markets differ mainly in the volume of each transaction and the type of buyer typically involved.

The distinction between a wholesale market and a retail market is based on the volume of business transacted and the position of the buyer in the overall chain of distribution. A wholesale market is one in which transactions take place in bulk quantities, typically between a producer or importer on one side and retailers, institutional buyers, or other large-scale buyers on the other. Because the quantities involved are large and the wholesaler generally provides fewer direct services to the final consumer, the per-unit price in a wholesale market is usually lower than the price the same product would eventually fetch at retail. A retail market, by contrast, is one in which the seller (the retailer) deals directly with the final consumer in relatively small quantities suited to individual or household consumption. The retailer typically provides additional services — convenient location, smaller pack sizes, credit, personal attention, after-sales support — that justify a higher per-unit price than what was paid at the wholesale stage. In practice, the same product usuall …

Students sometimes think the difference is only about the SIZE of the shop or market building. The real distinguishing factors are the volume of each transaction and the type of buye …