Characteristics of Land As A Factor of Production: Land includes all part of the earth surface which is not covered by oceans or other bodies of water. Land includes the physical surface of the soil and extends to subsoil and a reasonable height … [Read more...]
Role of the Wholesaler to the Manufacturers and Retailers
The Wholesaler/middleman is a merchant who buys goods in bulk from producers/manufacturers and sells them to the retailers. He buys the goods in bulk from the warehouses depots, puts the goods in his own warehouse, breake up the bulk, re-package … [Read more...]
Role of the Retailer to the Wholesaler and Consumer
Role of the retailer: In a market, there are the distribution channels which are paths through which goods and services from the producer to the final consumer. A distribution channel can be direct or indirect. It is direct when the producer sells … [Read more...]
Functions of the Wholesaler to the Manufacturers and Retailers
The Wholesaler/middleman is a merchant who buys goods in bulk from producers/manufacturers and sells them to the retailers. He buys the goods in bulk from the warehouses depots, puts the goods in his own warehouse, breake up the bulk, re-package … [Read more...]
Functions of the Retailer to the Wholesaler and Consumer
Functions of the retailer: In a market, there are the distribution channels which are paths through which goods and services from the producer to the final consumer. A distribution channel can be direct or indirect. It is direct when the producer … [Read more...]
Major Tools For Economic Analysis (Explained)
Major tools for economic analysis: Just like it is for every field of study, economics often use simple and quick tools like tablets, charts and graphs to represent information than with endless written pages to ensure easier understanding. Such … [Read more...]