A manufacturer of consumer food products for the Chinese market in Canada buys several tons of camellia nuts annually.It converts those nuts into cooking oil that is popular among the Chinese population because it has a milder taste than olive oil and a higher burning point.The oil is sold to supermarkets.The pulp from which the oil is extracted is sold to beef cattle farmers who use it to fatten their cattle.These transactions occur in the _____ market.

Question

Quizplus · Accepted Answer

This transaction occurs in the industrial market as it involves the purchase of raw materials (camellia nuts) and the production of a product (cooking oil) for commercial sale. The pulp from which the oil is extracted is also sold in the industrial market for use as animal feed.

A Manufacturer of Consumer Food Products for the Chinese Market