what is trade ? classify types of trade
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(i) Wholesale Trade : It involves purchase and sale of goods in wholesale quantities. ... Internal trade can also be classified as : (a) Local Trade, (b) State Trade, (c) Inter-State Trade. External Trade : Whenever trade occurs between two countries, it is known as external trade.
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Explanation:
Trade refers to buying and selling of goods and services for money or money's worth. It involves transfer or exchange of goods and services for money or money's worth. The manufacturers or producer produces the goods, then moves on to the wholesaler, then to retailer and finally to the ultimate consumer.
Trade can be divided into following two types, viz.,
Internal or Home or Domestic trade.
External or Foreign or International trade
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