Maharashtra State BoardHSC Commerce 12th Board Exam
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Attempt the following. Give classification of market in detail on the basis of 'Volume of Transaction' - Organisation of Commerce and Management

Answer in Brief

Attempt the following.

Give classification of the market in detail on the basis of 'Volume of Transaction'

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Solution

Classification of Marker On the Basis of Volume of Transaction is as follows:

  1. 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.
  2. Retail Market :
    The retail market is the market where the retailer sells goods directly to the
    the consumer in small quantities.
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