Explain the importance of trade. – InterviewSolution

InterviewSolution

1.

Explain the importance of trade.

Answer»

The importance of trade are:

Trade is an important economic activity.
The economic life of people is dependent on each other.
No region or country is self-sufficient.
Trade between two regions is necessary to fulfill the needs of the people.
As each region has different geographical conditions, each region produces specific commodities.

Discussion

No Comment Found

Related InterviewSolutions

Classify the trade taking place between the following regions:(1) Maharashtra and Punjab (2) India and Japan (3) Lasalgaon and Pune (4) China and Canada (5) India and European Union
Study the following case/situation and express your opinion:Tata have opened CROMA store in different locations. These stores sell consumers electronic items.1.Name these type of retail trade?2. Which type of retailer are they?
Justify the following statement:Cheap Jacks are not reliable and dependable.
Explain the following term /concept:Online Retail Trade.
State True or False(i) Customers cannot bargain in one price shop.(ii) Letter of Credit is required for obtaining export license.(iii) Buying goods from other country is known as export trade.(iv) Maintaining high quality is necessary to sustain in export business.
Name the stages involved in export trade.
Define Retail Trade.
Who creates link between producers and consumers?
Explain the following terms /concept.Retail Trade.
State True or False(i) Wholesaler keeps large stock of goods.(ii) Wholesaler deals in small quantity.(iii) A retailer has no direct contact with consumers.(iv) Super market shops offer home delivery facilities to customer.(v) Departmental store located out of the city.