Trade and Commerce ! List The Auxiliaries To Trade
Define trade and commerce. List the auxiliaries to trade.
Friday, October 16, 2020
Define trade and commerce. List the auxiliaries to trade.
Answer: Trade: A basic economic concept that involves multiple parties participating in the voluntary negotiation and then the exchange of one's goods and services for desired goods and services that someone else possesses.
Commerce: Commerce is the aggregate of all those aspects of business activity which are concerned with the scale, transfer or exchange of goods and services. It embraces all those functions that are essential for maintaining a free and uninterrupted flow of goods and services between producers and consumers.
Auxiliaries to Trade:
Answer: Trade: A basic economic concept that involves multiple parties participating in the voluntary negotiation and then the exchange of one's goods and services for desired goods and services that someone else possesses.
Commerce: Commerce is the aggregate of all those aspects of business activity which are concerned with the scale, transfer or exchange of goods and services. It embraces all those functions that are essential for maintaining a free and uninterrupted flow of goods and services between producers and consumers.
Auxiliaries to Trade:
1. Transport.
2. Warehousing.
3. Insurance.
4. Finance and banking.
4. Finance and banking.
5. Production.
6. Information.
7. Grading and standardisation.
