What is a
trade? Explain
the various feature of trade?
Answers
Explanation:
Trade is buying and selling goods and services between two individual or more than that. It 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 and services between parties..
The features of trade are:-
(1) Trade with a nation.
(2) Free exchange of goods .
(3) Single currency.
(4) Simplified trade procedure.
(5) Simple taxes .
(6) Methods of payment .
(7) Low transport costs .
(8) Free mobility of factors of production.
Answer:
Trade involves the transfer of goods or services from one person or entity to another, often in exchange for money. Economists refer to a system or network that allows trade as a market.
features of trade
Trade within a nation .
Free exchange of goods .
Single currency .
Simplified trade procedure .
Simple taxes .
Methods of payments .
Low transport costs .
Free mobility of factors of production.
Explanation:
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