MANAGEMENT

Detailed explanation-1: -False because this activity of the retailer creates value addition or utility for customers.

Detailed explanation-2: -Typically retailers sell goods in small quantities to consumers for personal use, not for resale or business use. Retail is the final step of the distribution channel. the retailer will buy the goods from the wholesaler, or sometimes directly from the producer, in bulk (large quantities) at a discounted price.

Detailed explanation-3: -Explanation: The above statement is incorrect. Retailers purchase goods in large quantities from different manufacturers or wholesalers and sell them to the final consumers in relatively smaller amounts. Retailers sell goods directly to the final consumers; thus, they are in direct contact with consumers.

Detailed explanation-4: -Retail defines the sales of tangible goods to customers, not for resale, but for use and consumption by the customer. Service, also called the Service Sector, defines the sales of intangible products, such as consulting, bookkeeping, cleaning, maintenance and repair, etc.