Question

For consumer price index, price quotations are collected from:

• A. Fair price shops
• B. Government depots
• C. Retailers
• D. Whole-sale dealers

Answer 1

The correct option is C Retailers

$\Rightarrow$ For consumer price index, price quatations are collected from: $Retailers.$

$\Rightarrow$ A retailer is a company that buys products from a manufacturer or wholesaler and sells them to end users or customers. In a sense, a retailer is an intermediary or middleman that customers use to get products from the manufacturers.

$\Rightarrow$ Retailers are experts in marketing, sales, merchandise inventory, and knowing their customers. They purchase the goods from the manufacturers at cost and market them to consumers at retail prices.

$\Rightarrow$ The retail price can be anywhere from 10 percent to 50 percent higher than the manufacturer cost.