How do brokers in cattle markets earn their living?

Advice traders on transactions and get paid for the same.

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Lend traders and obtain interests.

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Connect buyers to sellers and obtain commissions for the same.

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

Lend wholesalers and obtain interests.

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Open in App

Solution

The correct option is C Connect buyers to sellers and obtain commissions for the same.
Markets are generally huge and there is a high chance that people who visit them can miss items. Brokers help buyers connect with sellers and they charge a small fee for this service. Often brokers are paid by both the parties in a transaction.

Suggest Corrections

Similar questions

Q. Q. Consider the following Statements with reference to e-National Agriculture Market (NAM):Which of the above given statements is/are incorrect?

1 only
1 and 2 only
3 only
1 and 3 only

Q. Consider the following statements-
1.The paddy traders charge a commission of different kinds from the farmers.
2.Many of the farmers get delayed payments. Since these traders and landlords lend money in desperate times farmers have to sell their paddy to them.
Which of the above statements are correct?

Q. In the medieval India, the traders formed ________ to protect their interests.

Q. "A trader is not a middleman bringing the buyer and seller together and receiving the commission for the services provided by him." Is the statement true or false?

Q43. Which of the following is/are the components of the National Agriculture Market?

1. Single point levy of market fees

2. One license for a trader valid across all markets in the State.

3. Liberal licensing of traders / buyers and commission agents by State authorities without any pre-condition of physical presence or possession of shop /premises in the market yard

Select the correct code:

Join BYJU'S Learning Program