Markets Around Us — Social Studies STD 7 — Question
CBSE BoardEnglish MediumSTD 7Social StudiesMarkets Around Us3 Marks
Question
What do the terms wholesale and retail refer to?
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Answer
Wholesale refers to buying or selling goods in large quantity like fruits, vegetables, flowers, kitchen items etc.
Retail means buying the goods in smaller quantity from the wholesaler and sell it in the local markets to the consumers.NOTES: STORY OF AFTAB– Wholesaler In The City
Aftab a wholesaler starts his business around 2.am
Vegetables reaches the mandi from nearby areas
He participates in the auction for selecting which vegetables to buy
He stores these vegetables in his shop and further sells it to hawkers or shopkeepers.
These retailers come to the mandi around 6 am and reach their own areas by 10 in the morning.
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