Question

Choose the correct statement related to ‘retail trading’.

• A. It takes place in urban centres only.
• B. Retail traders are the collection and distribution centres.
• C. It is concerned with the sale of goods directly to the consumers.
• D. Retail traders primarily direct the goods to be manufactured to their specifications.

Hint:

Retail trading is directly concerned with selling goods to consumers, either in physical stores or through online platforms.

Answer 1

The Correct Option is C

Retail trading refers to the activity of selling goods directly to the final consumers. It is the last stage of the distribution chain, where products reach the end user. Here's the analysis of the options: - (A) "It takes place in urban centres only." This statement is incorrect because retail trading takes place in both urban and rural areas, although the scale and types of goods sold may vary.
- (B) "Retail traders are the collection and distribution centres." This is incorrect because retail traders are not typically involved in collecting or distributing goods; they primarily focus on selling to consumers.
- (C) "It is concerned with the sale of goods directly to the consumers." This is correct. Retail traders sell goods directly to the consumers, and this defines the nature of retail trade.
- (D) "Retail traders primarily direct the goods to be manufactured to their specifications." This is incorrect. Retail traders do not generally direct manufacturing; this is more relevant to wholesalers or manufacturers. Thus, the correct option is (C).