Question

What is a trade ? Give three components of trade

Answer 1

The exchange of goods among people, states & countries is referred to as trade. Imports and exports are two components of trade.

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Answer 2

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Trade involves the transfer of goods or services from one person or entity to another, often in exchange for money. A system or network that allows trade is called a market.

The three components of trade are:-

☞ A trading plan

☞ A trading strategy

☞ Trading resources
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