Answer in Brief
Attempt the following.
Give classification of the market in detail on the basis of 'Volume of Transaction'
Classification of Marker On the Basis of Volume of Transaction is as follows:
- Wholesale Market :
In the wholesale market, the activity of buying and selling goods is undertaken in large quantities at cheaper prices. Goods are sold to retailers who then sell them to the consumers. It refers to the market for bulk purchase and sale of goods.
In such a market seller are known as wholesalers and buyers are known as retailers.
- Retail Market :
The retail market is the market where the retailer sells goods directly to the
the consumer in small quantities.
Concept: Importance of Marketing
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