How many levels of trade are recognized, and what are they?

The recognized levels of trade encompass Manufacturer, Wholesaler, and Retailer. This structure reflects the flow of goods from production to the final consumer, highlighting the roles each level plays in distribution.

Manufacturers are responsible for creating products, and they operate at the top of the trade hierarchy. Once products are created, they are sold in bulk to wholesalers, who serve as intermediaries. Wholesalers purchase large quantities of goods and then distribute them to various retailers. Retailers, in turn, sell goods directly to consumers, completing the trade cycle.

This three-level structure emphasizes the importance of each tier in ensuring that products reach the end-users efficiently. The other options either miscount the levels or introduce roles that don't represent standard trading structures in most industries.