1. Answer the questions:

When and where was the first world industrial exhibition held?

What opportunities do fairs and exhibitions provide?

What do fairs and exhibitions display?

Under what mottoes are fairs and exhibitions usually held?

TEXT: FORMS OF TRADE

the exchange and distribution обмін та розподіл товарів та

of goods and services послуг

wholesale trade оптова торгівля

retail trade роздрібна торгівля

middleman посередник

the ultimate buyer кінцевий покупець

to estimate the quantities визначити кількість, оцінити

supply and demand попит та пропозиція

to supply постачати (товари),

to anticipate передбачувати, попереджувати

to enable дозволяти, давати можливість

stock запас (товарів), асортимент

warehouse склад

Commerce is a moving of goods from the man who wants to sell, to the man who is willing to buy, or, as it is sometimes expressed, the exchange and distribution of goods and services.

There are different channels of distribution goods and the most important among them there are two aspects wholesale trade and retail trade. A business that acquires goods to sell to the general public is called retail trade. A wholesale business is a middlemen who help goods move from manufactures to consumers and then sell them in turn to the retailer. A middleman is any person or firm that enters the distribution process between the manufacturer and the ultimate buyer.

The wholesaler or middleman buys in large quantities from the producer or manufacturer and sells in smaller quantities to the retailer who, in his turn, supplies the individual customer, but not final consumers.

For years no clear distinction was made in marketing between wholesaling and retailing and even today there is much confusion as to their difference.

It has been argued that the wholesaler is unnecessary and that the cost of goods could be lowered if he were eliminated from the chain.

The wholesaler is often not only necessary but economically indispensable. The manufacturer cannot, in most cases, undertake the handling of innumerable small orders from retailers with all the attendant work of packing and invoicing and dispatching. His main function is to produce goods, and it is uneconomical that his energy and attention should be turned from this to the collection and execution of a multitude of small orders.

Being the link between the producer and the retailer, the wholesaler knows the demand and can estimate the quantities required. His commercial agents can advise the manufacturer of changes in fashion, suggest an increase in production of certain types, a decrease in others so, the wholesaler can help the retailer in many ways: for example, the wholesaler studies production and his experience and knowledge of goods and markets enable him to select the best sources of supply.

The most common channel runs from the manufacturer to wholesaler to retailer to consumer. This is the longest channel, and requires the most markups. But it is often the most efficient, especially for dealing with small retailers. Retailer is the final link from the producer to the consumer. It is he who sells to the customer in the small quantities required and he who must be able to anticipate the customers' needs. The retailer gets his stock from a wholesaler either by ordering his goods after examining samples or patterns or by paying periodic visits to the wholesaler's warehouse where, from the range of goods that the wholesaler has bought from various manufacturers, the retailer can select those that he thinks will be most suited for the type of customer that buys from the shop. He may also deals direct with a manufacturer. The retailers, however, do more than merely supply a need. According to the type of goods that he sells, the retailer may render certain services. He may sell you shoes and repair them as they need repairing; sell you a watch- and clean the one that won't go; sell you a car and service it. The "little man", that is a small retailer is usually conveniently situated for his customer.

There are almost million retailing businesses in the United States. The retailer's primary role is to provide consumers with the products they want when and where they want them. That's why there are so many retail stores and why retail competition is often so intense.

Buyers want to take possession of a product at the time they buy it or soon after. So a retailer who too frequently runs out of stock of popular items or sizes will quickly lose customers.

The retailer is the party that actually sells the consumer goods manufacturers make. Manufacturers may advertise or otherwise promote their products. But the goods must be present in retail stores, customers must be aware that the goods are there, and the retailer must have a pricing policy that encourages their sale.