Summary The middlemen of trade

b uy and sell goods

for others for themselves

e.g. Brokers e.g. Wholesalers.

Retailers, merchants

and earn and hope to make

Commission Profit

Comprehension

5.5. Answer the following questions.

1. Where does the term «middlemen of trade» originate from?

2. How are middlemen involved in trade?

3. What are the types of middlemen and what is the difference between them?

4. How do wholesalers and retailers make a prodit?

5. What is the source of profit for brokers?

5.6. Which words go together ?

to make	deals
to sell	in the goods
to arrange	commission
to earn	a profit
to deal	at a higher price
commodity	trade
home	merchant
wholesaler	exchange

5.7. Find the correct word(s) from the box below to complete each sentence.

1. The middlemen of trade ... and ... goods.

2. Wholesalers and retailers hope to make a ... but they can make a....

3. A broker acts as an ... and earns....

4. Brokers do not ... the goods in which they deal.

5. In foreign trade there are ... and ... merchants.

agent sell export

buy loss commission

import possess profit

5.8. Complete the sentences by choosing suitable phrases from the right-hand column.

The middlemen lie between...	selling at a higher price
The middlemen deal in...	hoping to make a profit
Wholesalers buy at one price...	in which they deal
Retailers sell to the public...	extractive and/or manufacturing industry and the public
Brokers never possess the goods...	the buying and selling of goods
In home trade the wholesalers...	by arranging deals for others
Brokers act as agent...	is sometimess called a wholesale merchant

5.9. Say if the statements are true or false. Correct the false variant.

The middlemen of trade lie between extractive and/or manufacturing industry and the public. The middlemen of trade deal in the manufacturing of goods. Wholesalers and retailers buy from manufacturers and sell to the public hoping to make a profit. Brokers sometimes buy the goods in which they deal.

T/F T/F T/F T/F