Prepare a seminar report on auxiliaries to trade in order to present the same in your class room
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Answer:
Auxiliaries to trade are part of Commerce. They consist of transportation, warehousing, advertising, banking, insurance etc.
Transportation and communication are components of auxiliaries of trade and are very important components, as they allows better flow of goods and information.
Banking and finance allow businesses to obtain the funds required to expand business activities. Having a good network of banks would mean easier availability of credit (loans) to businesses.
Insurance makes businesses immune to some risks that they may face. Example - insurance against natural calamities. Warehousing allows an easier roll out of stock (stored goods which could be sold at a later date) in case of a sudden rise in demand.
Advertising is a way of communicating with consumers in order to tell them about the availability of a product. This meets the consumers demand and helps businesses earn greater revenue.
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