Thus, this assumption of consignment sales also serves to separate the properties of the wholesaling markets from the effects of the monetary system, which are treated later.
The dynamism of private industry, agriculture, and wholesaling during 1966-72 was unconscionably squashed by increased centralisation.
The divested firms came from various sectors, including agriculture and agro-processing, wood-processing, catering and hotels, textiles, vehicle assembly and repairs, breweries, mining, wholesaling and retailing.
Then, with centralized wholesaling markets, there are only two equilibria, rather than a continuum.
It is demonstrated that centralized wholesaling markets are subject to precipitous collapses induced by real-side production coordination failure.
In particular, assume that wholesalers attempt to purchase the optimal amount of goods, as required by the positive output equilibrium of centralized wholesaling markets.
This result, that there are only two equilibria with centralized wholesaling markets-the optimal-output equilibrium and the zero-output equilibrium-may be of practical significance.
This decentralization generates a role for wholesaling in moving intermediate goods to final-product fabricators.
