In economy, which function of goods and services is known as trade?
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Trade is a basic economic concept involving the buying and selling of goods and services, with compensation paid by a buyer to a seller, or the exchange of goods or services between parties. Trade can take place within an economy between producers and consumers
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The function of buying and selling of goods and services is known as trade.
More To Know:
Goods in trade includes all goods which add to, or subtract from, the stock of material resources of a country by entering its economic territory (imports) or leaving it (exports).
Services in trade refers to the sale and delivery of an intangible product, called a service, between a producer and consumer.
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