Contents
THEORY OF DEMAND
- Demand is willingness (desire) and the ability to buy a certain quantity of a commodity at the going price at a specific period of time.
THEORY OF SUPPLY
- Supply is the producer's willingness and ability to supply a given good at various price points, holding all else constant.
RETAIL TRADE
- Retail trade is the sale of goods in small quantities to consumers.
WHOLESALE TRADE
- Wholesale trade is a form of trade in which goods are purchased and stored in large quantities and sold, in batches of a designated quantity, to resellers, professional users or groups, but not to final consumers.
WARE-HOUSING MANAGEMENT
- Warehousing is the institutional arrangement for the storage of goods i.e. receiving, storing and dispatching the goods to the uses
STOCK ADMINISTRATION
- Are the overseeing and controlling of the ordering, storage and use of components that a company will use in the production of the items it will sell as well as the overseeing and controlling of quantities of finished products for sale.