Question

Name the activities which facilitate buying and selling of goods

Answer 1

tertiary activity by doing trade which was national or international

Answer 2

The ‘buying and selling of goods’ are termed as trading. The activities that help with the buying and selling of goods are termed as auxiliaries of trade.

Explanation:

• The auxiliaries to trade help and support the activities for trading. The different auxiliaries of trading are Transport and communication, banking and finance capital, insurance, warehousing, and advertising.  

• All of these help with the ‘buying and selling of goods’ to the consumers. Transportation facilitates the movement of goods and the medium of communication is used for communication and exchange of information.  

• Banking helps with the supply of capital for the business. Insurance takes care of the risk, loss or damage of property or goods.  

• Warehouse help with the storage of goods that removes the problem of time in the supply of goods.  

• Advertising helps with promoting the goods and services to consumers.