TRADE
CONTENT
- Meaning and importance of Trade
- Forms of Trade: Home Trade, Foreign Trade;
- Aids to Trade: Banking, Insurance, Advertising, Communication, Transportation, Tourism, etc.
- Role of Custom and Excise in Foreign Trade
Meaning of Trade
Trade can be defined as the process of buying and selling of goods and services. When one thing is exchanged for another, trade can be said to have taken place.
Importance of Trade
- Trade helps the producer to sell his/her goods to the consumer.
- Trade allows the consumer to have a variety of goods to choose from.
- It makes it possible for consumers to enjoy goods and services from other countries.
- It can lead to improvement in the standard of living of people.
- Good provided in surplus in one area are able to get to where it is not available.
- Trade brings the buyer and the seller together
- Trade gives value to a nation’s
Forms of Trade
There are two forms/kinds of Trade namely:
- Home Trade or Domestic Trade
- Foreign Trade or External Trade
1.
You are viewing an excerpt of this lesson. Subscribing to the subject will give you access to the following:
- NEW: Download the entire term's content in MS Word document format (1-year plan only)
- The complete lesson note and evaluation questions for this topic
- The complete lessons for the subject and class (First Term, Second Term & Third Term)
- Media-rich, interactive and gamified content
- End-of-lesson objective questions with detailed explanations to force mastery of content
- Simulated termly preparatory examination questions
- Discussion boards on all lessons and subjects
- Guaranteed learning