Which of the following functions do retailers perform in an economy?
Answer Details
Retailers perform the function of distribution in an economy. They buy goods from manufacturers or wholesalers and sell them to consumers at a markup price. This involves the physical movement of goods from the producers to the consumers through the distribution channels, which may include intermediaries such as wholesalers, agents, and retailers. Retailers may also provide storage facilities for the goods they sell, but this is not the primary function. Retailers do not engage in production, investment or hoarding of goods.