Merchant

Meaning:

A merchant is a person or business that sells goods or services to customers. Merchants can be shop owners, online sellers, wholesalers, traders, small business owners, or  service providers. They act as the main link between manufacturers and consumers.

Types of Merchants:

Retail Merchants: Sell directly to customers in shops.

Wholesale Merchants: Sell large quantities of goods to other businesses.

Online Merchants: Sell products through websites or apps.

Service Merchants: Provide services like haircuts, hotel stays, or repairs. 

Importance in Finance:  

Merchants are important for the economy because they distribute goods and create revenue.

They use banking services, digital payments, loans, and financial records to run their businesses smoothly.

Role in Goods and Business:

Merchants help get products to customers, manage pricing, and ensure that essential items are  available. Digital payments have made their operations faster and clearer.