A group of small sellers take the initiative and organize a new business entity to carry on wholesaling and possibly some production. This initiative is called a(n)________.

Question

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The initiative taken by the group of small sellers to organize a new business entity for wholesaling and producing is called a retailer cooperative. A retailer cooperative is a group of independent retailers who join together to form a new business entity to carry out wholesaling and production. This allows them to obtain economies of scale and compete with larger retailers.

A Group of Small Sellers Take the Initiative and Organize