Explain how a chain of markets is formed. What purpose does it serve?

A chain of markets is formed in the following manner:

1. Goods are produced in factories.

2. Wholesalers then buy goods from factories in bulk.

3. The wholesalers then sell goods to retailers and hawkers.

4. Customers then buy goods from a retailer or a hawker.

5. Thus, from factories to consumers, a chain of markets is formed.

6. The purposes served by the chain of markets are

7. Products can be bought from nearby places.

8. Goods are brought from far off places to serve the needs of consumers.

9. Factories do not require searching for their customers.

10. Factories need to sell their products in lower quantities.

11. Several people are benefitted because of the chain of markets.