AGRI 331 QUIZ

What is a wholesale market primarily focused on?

• B2C (Business-to-Consumer) transactions

• B2B (Business-to-Business) transactions

• Direct sales to end consumers

• Online retail sales

Why are prices usually lower in a wholesale market compared to retail?

• Due to higher demand

• Due to bulk purchasing

• Due to lower quality

• Due to limited supply

What role does a wholesale market play between producers and retailers?

• It acts as a direct seller to consumers

• It functions as a crucial intermediary

• It eliminates the need for retailers

• It increases the cost of goods

Which of the following is NOT an example of where intermediaries operate?

• Physical markets (mandis)

• Online B2B platforms

• Retail stores

• Wholesale warehouses

Which of the following is considered a grain commodity?

• Cattle

• Corn

• Milk

• Coffee

Which of the following is NOT an agricultural commodity?

• Soybeans

• Pork

• Aluminum

• Rice

What is a characteristic of a perfectly competitive market?

• Firms have significant market power

• Sellers offer identical products

• Prices are controlled by a few firms

• Products are highly differentiated

What is the primary role of wholesalers in the supply chain?

• To produce goods

• To buy products in bulk and sell to retailers

• To provide raw materials to manufacturers

• To sell directly to consumers

What is the primary role of distributors in the supply chain?

• To own and sell goods directly to consumers

• To handle logistics and sales to retailers or wholesalers

• To manufacture goods for retailers

• To provide financial services to manufacturers

How do agents/brokers earn their income?

• By selling goods directly to consumers

• By charging a commission for facilitating transactions

• By manufacturing goods

• By providing warehousing services