Which of the following goods are traded in bulk at wholesale prices and are generally NOT purchased by ordinary consumers?
Answer & explanation
Correct answer: option 3
The correct answer is Option (3) → Raw materials and semi-finished goods
Goods traded in bulk at wholesale prices, such as raw materials and semi-finished goods, are not bought by ordinary consumers. Their prices are tracked by the Wholesale Price Index.
NCERT (2026-27): “2.4 Nominal and Real GDP It is worth noting that many commodities have two sets of prices. One is the retail price which the consumer actually pays. The other is the wholesale price, the price at which goods are traded in bulk. These two may differ in value because of the margin kept by traders. Goods which are traded in bulk (such as raw materials or semi-finished goods) are not purchased by ordinary consumers. Like CPI, the index for wholesale prices is called Wholesale Price Index (WPI). In countries like USA it is referred to as Producer Price Index (PPI). …” |