Trade and auxiliary services to trade means _________
a) Retail trade
b) Commerce
c) Business
d) wholesale
Answers
Explanation:
AUXILIARIES TO TRADE AND THEIR COMPONENTS - DEFINITION
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.
TRADE AND AUXILIARIES TO TRADE - DEFINITION
Commerce includes two types of activities, viz
(i) trade and (ii) auxiliaries to trade.
Buying and selling of goods is termed as trade. But there are a lot of activities that are required to facilitate the purchase and sale of goods. These are called services or auxiliaries to trade and include transport, banking, insurance, communication, advertisement, packaging and warehousing.
BRANCHES OF COMMERCE - DEFINITION
Commerce has two major branches viz trade and aids to trade.
Trade involves buying and selling of goods and services. It is classified as internal and external trade. Internal trade can be wholesale or retail trade. External trade takes the form of import, export, and entrepot trade.
Aids to Trade: Also known as auxiliaries which provide support to perform activities related to industry and trade. They include activities viz transportation, communication, warehousing, banking and financing, insurance, advertising, other allied services.
AIDS TO TRADE AND THE TYPES - DEFINITION
Aids to Trade also known as auxiliaries which provide support to perform activities related to industry and trade. They include activities viz transportation, communication, warehousing, banking and financing, insurance, advertising, other allied services.
TRADE AND ITS CHARACTERISTICS - DEFINITION
Trade is an essential part of commerce.
It refers to sale, transfer or exchange of goods.
It helps in making the goods produced available to ultimate consumers or users.
Businessmen are engaged in trading activities as middlemen to make the goods available to consumers in different markets.
COMMERCE, TRADE AND INDUSTRY - DEFINITION
Business activities are categorized into two groups. The industry and commerce.
Industry is further divided into the primary, secondary and tertiary industry.
The primary industry consists of activities such as farming, mining, fishing, etc.
The secondary industry consists of mostly manufacturing and
The tertiary industry consists of all forms of service industries. This could include banking, insurance, food industry, hotel industry, etc.
Commerce includes two types of activities, viz
(i) trade and (ii) auxiliaries to trade.
Buying and selling of goods is termed as trade. But there are a lot of activities that are required to facilitate the purchase and sale of goods. These are called services or auxiliaries to trade and include transport, banking, insurance, communication, advertisement, packaging and warehousing.
Commerce, therefore, includes both buying and selling of goods. Commerce provides the necessary link between producers and consumers.