Internal Trade — Flashcards

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Internal trade refers to the buying and selling of goods and services within the geographical boundaries of a country. It is also known as domestic or home trade. For example, purchasing vegetables fr…

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The features of internal trade are: 1. Transactions occur within the country's boundaries. 2. Payment is made in the national currency (e.g., Indian Rupee). 3. It involves producers, consumers, and mi…

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Wholesale trade involves buying goods in large quantities from producers and selling them in smaller quantities to retailers. Wholesalers act as a link between manufacturers and retailers. For example…

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Functions of wholesalers include: 1. Procurement of goods from manufacturers. 2. Grading and packing goods into smaller lots. 3. Transporting goods to warehouses and retailers. 4. Warehousing and stor…

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Wholesalers help manufacturers by: - Buying in bulk, which allows large-scale production. - Relieving them of warehousing responsibilities. - Providing market feedback about consumer preferences. - Re…

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Wholesalers assist retailers by: - Ensuring regular supply of goods. - Offering credit facilities. - Advertising products to boost sales. - Providing market information and advice on pricing and quali…

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Retail trade refers to the sale of goods in small quantities directly to the final consumers. Retailers buy from wholesalers or producers and sell to customers. For example, a grocery shop selling ric…

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Characteristics of retail trade: 1. Sells goods in small quantities. 2. Deals with a variety of items. 3. Located near residential areas. 4. Often buys on credit from wholesalers and sells for cash. 5…