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Question
Mrs. Arti buys furniture in huge quantities from Ganesh Limited, the manufacturer. Then she sells it to her customer, Mr. Naresh. Then, Mr. Naresh paints the furniture and finally sells it to the consumers.
Identify the correct options.
Mrs. Arti buys furniture in huge quantities from Ganesh Limited, the manufacturer. Then she sells it to her customer, Mr. Naresh. Then, Mr. Naresh paints the furniture and finally sells it to the consumers.
Identify the correct options.
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Solution
The correct option is C The buying of furniture by Mr. Naresh from Mrs. Arti is retail trade.
When traders buy directly from producers in huge quantities, it is called wholesale trade. When a retailer buys goods from a wholesaler and sells it directly to consumers, it is called retail trade. In this case, Mrs. Arti, a wholesaler, bought goods from the manufacturer and sold it to Mr. Naresh, a retailer, who sold it to the final consumer.
When traders buy directly from producers in huge quantities, it is called wholesale trade. When a retailer buys goods from a wholesaler and sells it directly to consumers, it is called retail trade. In this case, Mrs. Arti, a wholesaler, bought goods from the manufacturer and sold it to Mr. Naresh, a retailer, who sold it to the final consumer.
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