Explain how a chain of market is formed what purpose does it serve?

Question: Explain how a chain of market is formed what purpose does it serve?

A chain of market is formed when a product or service passes through different stages of production, distribution and consumption. The purpose of a chain of market is to add value to the product or service at each stage and to satisfy the needs and wants of the customers. A chain of market can be simple or complex, depending on the number and nature of the intermediaries involved. A chain of market can also be affected by external factors such as competition, regulation, technology and consumer behavior.

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