Question

centres of trade and commerce give 2 example ​

Answer 1

Answer:

An example of trade is the tea trade where tea is imported from China and purchased in the US. An example of trade is when you work in sales. An example of trade is the act of exchanging one item for another or one item for money.

Answer 2

Answer:

Commerce includes two types of activities—trade and auxiliaries to trade. It mainly involves activities that bridge the gap between the producers and the sellers. Auxiliaries to trade are activities that facilitate the trading process.

The following are the various auxiliaries to trade.

(a) Banking and finance: Finance is the most important input to run any business. The absence of a banking and finance system can obstruct the free movement of goods. An efficient banking facility ensures the easy and ready availability of cheap credit to businessmen and traders, and thus acts as an auxiliary to trade.

(b) Advertising: It is through advertisements that businessmen are able to reach a large number of potential buyers. Advertisements through television, the Internet, newspapers, the radio and other various media educate the buyers and make them more aware of the goods available. This helps businessmen to increase their sales. Hence, advertisement plays the role of an auxiliary to trade.

(c) Warehousing- It refers to the holding or preservation of goods until they are transported for final consumption. It helps businesses to store goods and facilitates the availability of goods when required.

(d) Insurance: Every business activity involves various types of risks because of the existence of factors beyond control. Insurance acts as a protection against these risks. On payment of a nominal premium, the loss suffered by a business can be recovered from the insurance company concerned.

(e) Transportation- It enables a producer to purchase raw materials and other inputs from various places and sell the final products in different regions. Transport facilitates the selling and buying of goods.

Explanation:

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