............... refers to buying and selling of goods and services in large quantities for the purpose of resale or intermediate use.

Wholesale trade

The correct answer is option 2- Wholesale trade.

Wholesale trade refers to buying and selling of goods and services in large quantities for the purpose of resale or intermediate use. Wholesaling is concerned with the activities of those persons or establishments which sell to retailers and other merchants, and/ or to industrial, institutional and commercial users but who do not sell in significant amount to ultimate consumers. Wholesalers serve as an important link between manufacturers and retailers. They enable the producers not only to reach large number of buyers spread over a wide geographical area (through retailers), but also to perform a variety of functions in the process of distribution of goods and services. They generally take the title of the goods and bear the business risks by purchasing and selling the goods in their own name. They purchase in bulk and sell in small lots to retailers or industrial users.