Theory question 105
Distribution(a) What is a market union? (b) State four functions of market facilitators.
(c) The women in Eke market formed a Garri Seller's Union. State five role of this Union.
Show the model answer
(a) A market union is an association of traders who sell the same product in a market, formed to protect and promote their common interests.
(b) Any four: provide finance (banks); provide transport; provide storage (warehousing); insure goods against risks; provide advertising and research services; provide communication.
(c) Any five: fix a common price for garri; settle disputes among members; regulate measures and quality; protect members from unfair competition; represent members before government and market authorities; welfare support/contributions for members; maintain cleanliness and security of the market; give members access to credit.
Give each point as a full sentence, with an example where possible.