Question

Discuss the chain of markets through which the product reaches the final buyer. Make a flowchart to depict the process.

Answer 1

In thr chain of markets, the products pass through a number of stages, beginning from the producer and ending with the consumer. Goods are either produced in farms (fruits, vegetables, etc.) or are produced in factories (clothes, medicines, etc.)
After the goods have been produced in the factories, they are bought by the wholesale traders in bulk. They store the goods in godowns and later sell them to other traders in wholesale markets.
In these markets, the goods are bought by the retailers, who sell them at their own shops.
The consumers buy their goods from these retailers.

Consumers