7) What is an Extrepot Trade?
8) What is meant by Auxiliaries to Trade?
9) What is Trade?
10) What do you mean by Commerce?
11) What is Primary Industry?
12) What is Secondary Industry?
13) What do you mean by Genetic Industry?
Answers
Answer:
7. Extrepot trade- The trade in which trader imports goods with an idea to export it to other countries.
8. Auxiliaries to trade- Activities such as banking, warehousing, insurance and advertising that assists the trade are the trade auxiliaries.
9. Trade- The buying & selling of goods or services from one entity to the other for money is known as trade.
10. Commerce- Commerce is facilitating the trade in the economy which includes the auxiliaries to trade.
11. Primary industry- The yielding of raw materials like wood coal, etc. (includes fishing, mining, agriculture and farming)
12. Secondary industry- Converting intermediate or raw materials into final product or finished goods (constructor, tailor)
13. Generic industry- The pharmaceutical industry that produce medicinal drugs, industries that produce goods that are not marketed highly.