The towns and cities where all the buying and selling take place are known as _____.

Trading centres

The correct answer is Option 3: Trading centres

• Trading centres are towns and cities where all kinds of buying and selling activities take place — wholesale, retail, import, export, etc.

• Wholesale centres ➔ Places where goods are sold in large quantities (bulk).

• Retail centres ➔ Places where goods are sold directly to consumers (small quantities).

• Periodic markets ➔ Temporary markets set up at regular intervals (like weekly markets in villages).