Purchase group in economics and finance

Hello everyone! Welcome to today's lesson on purchase group in economics and finance. A purchase group, also known as a buying group or a purchasing consortium, refers to a collective of individuals or organizations that come together to leverage their combined buying power. By pooling their resources, these entities can negotiate better deals, secure discounts, and access a wider range of products and services. The concept of purchase groups is not only prevalent in the business world but also extends to various other sectors, including healthcare, education, and government.