Final answer:
Producer-owned stores and sales branches are the two wholesaling activities that are wholly owned extensions of a producer. They focus on direct sales and distribution, respectively, an important aspect in understanding market competition and share.
Step-by-step explanation:
The two wholly owned extensions of the producer that perform wholesaling activities are producer-owned stores and sales branches. Producer-owned stores are retail outlets owned by the producers themselves, selling products directly to consumers. On the other hand, sales branches are extensions that sell the products to retailers or wholesalers rather than directly to consumers. In the context of the Federal Trade Commission and market competition, understanding these extensions is important when considering market share and competition, such as the attempted merger between Whole Foods Market and Wild Oats Market in 2007. These two companies were major players in the niche market of premium natural and organic supermarkets but were relatively smaller in the broader market for all grocery stores and specialty food products.