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Questions
Give classification of the market in detail on the basis of ‘Volume of Transaction’.
Explain the classification of market on the basis of volume of transaction.
Explain the types of market on the basis of volume of transaction.
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Solution
- Wholesale Market: A wholesale market is a location where goods are purchased and sold in bulk at a reduced cost. After that, retailers sell the products to customers.
- Retail Market: This is the location where retailers sell small amounts of goods directly to customers.
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