Question

Explain the following term/concept:

Wholesale Market.

Answer 1

A wholesale market is one where products are purchased and sold in big quantities at reduced costs. Large quantities of commodities are purchased from producers by wholesalers in this market. He then sells these products to shops in a reasonable amount, who resell them to customers in a smaller amount. In simple terms, it's a market for buying and selling items in quantity. Retailers are referred to as buyers in this kind of market, and wholesalers as sellers.