Middlemen are made up of

Assessment: WAEC SSCE - Economics - 2019 (Objective) Subject: Economics

Question 1 Report

Middlemen are made up of

Answer Details
Middlemen refer to the intermediaries or agents that facilitate the movement of goods and services from the producer to the end-user. Middlemen can be made up of various entities, including manufacturers, wholesalers, retailers, and consumers, depending on the specific context. In general, middlemen are involved in the distribution of goods and services from the point of production to the point of consumption. They help to bridge the gap between producers and consumers by performing functions such as transportation, storage, financing, and risk-taking. In the context of the given options, middlemen are typically composed of wholesalers, retailers, and consumers. Wholesalers buy goods in bulk from manufacturers and sell them in smaller quantities to retailers, who in turn sell them to consumers. Consumers, on the other hand, buy goods for their personal use. In summary, middlemen are intermediaries that facilitate the movement of goods and services from producers to end-users, and they can be made up of various entities depending on the specific context. In the given options, middlemen are typically composed of wholesalers, retailers, and consumers.

Download The App On Google Playstore

Everything you need to excel in your exams

Green Bridge CBT Mobile App
Personalized AI Learning Chat Assistant
200,000+ Exam Questions Across IGCSE, JAMB, WAEC & NECO
Over 3,900 Lesson Notes
Offline Support - Learn Anytime, Anywhere
Green Bridge Timetable
Literature Summaries & Potential Questions
Track Your Performance & Progress
In-depth Explanations for Comprehensive Learning