Answer:

Ans1- The personal factors include age, occupation, lifestyle, social and economic status and the gender of the consumer. These factors can individually or collectively affect the buying decisions of the consumers.

Ans2-

To begin with, the growing of shopping centers and supermarkets offers a merits. Since these places are usually complexes which gather retailers and sellers in one area, it is more convenient for the customers to browse items without having to travel from store to store in far distance. For example, unlike convention stores where people travel from one town to another to buy different types of products, shoppers can simply switch to a television shop from a food and grocery kiosk nearby in the malls. Moreover, these state-of-the-art markets give companies great opportunities to easily advertise and promote themselves to the massive crowd at one time. Thus, it drastically facilitates the manufacturers’ sales.

However, there is a major PROBLEM when large malls and modern markets keep attracting the citizens’ attention. Many individual businesses could be closed due to the lack of customers and decrease of sales. Since the small shops cannot compete effectively, they will not gain enough profit to pay all the expense and keep their store RUNNING.

Ans3- The difference between shopkeeper and vendor. is that shopkeeper is a trader who sells goods in a shop, or by retail; -- in distinction from one who sells by wholesale, or sells door to door while vendor is a person or a company that vends or sells.

Ans4- Features Of Wholesaling

1. Link between producers and retailers

Wholesalers act as an important link between producer and retailer.

2. Bulk quantity

Bulk buying is another feature of wholesaling. Wholesalers buy goods in bulk quantity from producers.

3. Few product line

Wholesalers deal in the goods of certain product lines only.

4. Low profit margin

Most of the wholesalers do their business for low profit margin.

5. Sales on credit

Generally, wholesalers sell goods to retailers on credit.

6. Financial help

Wholesalers can provide financial help to producers and retailers, if needed.

7. Various services

Wholesalers also provide services such as warehousing, risk-bearing, PROMOTION, market information specialist advice etc.

Ans5: As everyone knows, free markets are important because they voluntarily bring together willing buyers and sellers. ... In fact, so important is their function that, in classical economic theory, a free market occurs only when no SINGLE BUYER or seller can determine price.