Social Sciences, asked by Anonymous, 3 months ago

What is trade ? Explain different types of trade.


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Answers

Answered by Anonymous
5

Answer:

Trade refers to buying and selling of goods. A trader purchases goods from manufacturers and sells them to consumers. A trader acts as intermediary between the manufacturer and the consumers.

Trade is confined to buying and selling of goods and is a part of commerce, which is wider term that includes trade and aids to trade.

Trade may be classified in two categories :

1. Internal Trade

2. External Trade.

Internal Trade :

Internal trade is done within the geographical boundaries of a country. As an example, trade done amongst the traders of Delhi, Mumbai, Chennai, Kanpur and Amritsar etc. is called Internal Trade.

Types of Internal Trade :

(i) Wholesale Trade : It involves purchase and sale of goods in wholesale quantities. Large quantities of goods purchased from manufacturer are sold in small quantities to various retailers.

(ii) Retail : It involves the sale of goods to consumers by the retailers. A retailer buys the goods from a wholesaler and sells them to customers in their required quantities. It is a link between a wholesaler and consumer. Different types of goods are available at a retailer shop so that a customer could buy the goods of his own choice.

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. In foreign trade, both buyer and seller live in different countries. If Reliance Ltd. sells Polyester Yarn to a French firm or L&T Ltd. purchases a heavy machine from a Swiss firm, these would classified as external trade.

Answered by Anonymous
63

Trade is the action of buying-selling or exchanging goods and services between people, companies, countries and other entities.

TRADE :- 1) Home trade.

2) Foreign trade.

1) Home trade :-

(i) Wholesale trade .

(ii) Retail trade.

2) Foreign trade :-

(i) Import trade.

(ii) Export trade.

(iii) Entreport trade.

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