Question

What is a chain of markets? Who are the persons involved in a chain of market? Who are the people who gain in the market (3) and who are the people who didn't gain as much in the market (3)?

Answer 1

A chain of markets is formed when a number of traders supply goods from the producers to the consumers. We thus have wholesale markets where other dealers buy the goods in bulk. These dealers then sell the goods in weekly markets to consumers and thus a chain of markets is formed.

A market chain meets the needs of both producers and consumers. Because a producer cannot sell a small number of goods to a single consumer, and consumers cannot buy huge quantities of goods from producers. As a result, wholesalers, retailers, and other intermediaries are needed to connect producers and customers.

Retailers are the people who gain in the market.

Hawkers and vendors are the people who didn't gain as much in the market.