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Middlemen are made up of

Economics
WAEC 2019

Middlemen are made up of

  • A. manufacturers, wholesalers, and consumers
  • B. manufacturers, wholesalers, and retailers
  • C. wholesalers, retailers and hawkers
  • D. wholesalers, retailers, and consumers
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Correct Answer: Option C
Explanation

Middlemen are agents who play the role of an intermediary in a distribution or transaction chain that facilitates interaction between parties. They include wholesalers, retailers, agents, and brokers.

For those who may be confused about a hawker being a middleman, remember a hawker does the same thing a retailer does, - sells to the final consumer. The difference between a hawker and a retailer is in the mode of conducting business. While a retailer may have a kiosk, shop, or store where their goods are sold, a hawker moves from one place to another to sell different products.


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WAEC offline past questions - with all answers and explanations in one app - Download for free
WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 24709
WAEC May/June 2024 - Practice for Objective & Theory - From 1988 till date, download app now - 99995
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
WAEC May/June 2024 - Practice for Objective & Theory - From 1988 till date, download app now - 99995
WAEC offline past questions - with all answers and explanations in one app - Download for free
WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 24709
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts