Question

prepare a brief note regarding trade and its classification

Answer 1

Answer:

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Explanation:

The buying and selling of goods and services consists of trade. The essence of trade is to make goods and services available to those persons who need them and are able and willing to pay for them. Trade is conducted in order to earn profit. Trade acts as an intermediary in the exchange of commodities between the producer and consumer.

Classification of Trade

On the basis of geographical location of buyers and sellers, trade can be broadly classified into two categories;

1. Internal trade and

2. External trade