Retailing and Market Advantages Quiz

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What is a primary function of retailers?

Transporting goods internationally
Buying from wholesalers and selling in smaller quantities (correct)
Producing goods in bulk
Manufacturing products for consumers

Street markets only sell foodstuff.

False (B)

What is one advantage of markets?

Low overhead expenses

Small-scale retailers often use ______ shops to reach consumers in rural areas.

mobile Signup and view all the answers

Match the type of retailer with its characteristics:

Mobile shops = Limited range of goods and transport costs Street markets = Popular with tourists and hire of stall space Night markets = Variety of foodstuff and household goods Wet markets = Focus on fresh produce and seafood Signup and view all the answers

What is a key advantage of a farmers' market?

Fresh goods sold by producers (D) Signup and view all the answers

Goods in a farmers' market are often sold at high prices compared to other markets.

False (B) Signup and view all the answers

What is one disadvantage mentioned about goods sold in a market?

Goods can be unsellable. Signup and view all the answers

A disadvantage of a market is that goods may become ______ if they are not of good quality.

unsellable Signup and view all the answers

Match the following advantages and disadvantages of a market:

Low prices = Advantage Fresh goods = Advantage Goods are unsellable = Disadvantage Higher costs of operation = Disadvantage Signup and view all the answers

Retailer function

Retailers buy products in bulk from wholesalers and sell them in smaller quantities to consumers.

Small-scale retailers

Small businesses selling in smaller quantities, usually food, found in various locations like mobile shops or street markets.

Mobile shops

Retail outlets on wheels, typically found in rural areas or housing estates, primarily selling food.

Street markets

Public marketplaces where various goods (especially food) are sold, popular with customers and often tourists.