Wholesale Trade
ICSE · Class 11 · Commerce
Flashcards for Wholesale Trade — ICSE Class 11 Commerce. Quick Q&A cards covering key concepts, definitions, and formulas.
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What is wholesale trade?
Answer
Wholesale trade means buying and selling goods in large quantities. A wholesaler buys goods in bulk from producers or manufacturers and sells them to retailers in smaller quantities.
Who is a wholesaler?
Answer
A wholesaler is the first link in the chain of middlemen. He collects goods from producers and sells them to retailers. He is neither a manufacturer nor a retailer; he acts as a link between the two.
Define a wholesaler in simple words.
Answer
A wholesaler is a trader who purchases goods in large quantities from manufacturers and sells them to retailers in small quantities.
Why is the wholesaler called a link between producer and retailer?
Answer
The wholesaler buys goods from producers in bulk and passes them on to retailers in smaller lots. This saves producers from many small orders and helps retailers get goods regularly without directly a…
What does the Census Bureau of U.S.A. say about wholesale traders?
Answer
Wholesale traders are merchants, agents and assemblers who intervene between producers on one side and retailers or users on the other.
What is the definition of a true wholesaler by Eyelyn Thomas?
Answer
A true wholesaler is neither a manufacturer nor a retailer but acts as a link between the two.
What is Stanton’s definition of a wholesaler?
Answer
A wholesaler is a trader whose business is the supply of goods of a certain commodity or class to the trade. He buys from producers in large quantities and resells to retailers or other traders in sma…
What is the definition of wholesaler given by Cundiff and Still?
Answer
A wholesaler buys and resells merchandise to retailers, other merchants, and industrial, institutional, and commercial users, but does not sell in significant amount to ultimate consumers.
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