ENTREPRENEURSHIP

Detailed explanation-1: -Wholesalers operate as middlemen between product manufacturers and retailers or other businesses. They make a profit by buying products in bulk at a discount and reselling them in smaller quantities at a higher price to individual retailers.

Detailed explanation-2: -Wholesalers are not manufacturers. Their business is distributing the end products. They purchase goods from manufacturers in bulk at a discount and sell to retailers. Wholesalers also provide cost savings to retailers when retailers buy in bulk from the wholesaler.

Detailed explanation-3: -A wholesaler buys products from producers in bulk and sells it in large quantities to traders.

Detailed explanation-4: -Retailer: Retailers are companies that buy products from other vendors and sell them to consumers. For example, Target is a vendor that sells home appliances and other home products.