What do you understand by internal trade? Discuss it\'s types in brief

1.	What do you understand by internal trade? Discuss it\'s types in brief.
Answer» Internal Trade\xa0When buying and selling of goods and services takes place within the geographical limits of a country. It is known as internal trade.Types of Internal Trade\xa0Internal trade can be classified into two categories.(i) Wholesale Trade\xa0It refers to the trade in which goods are sold in large quantities. The person who carries on wholesale trade is known as wholesaler.A wholesaler provides many valuable services to the manufacturer as well as the retailer.(a)\xa0Services to Manufacturer\tFacilitating large scale production\tBearing risk\tFinancial assistance\tExpert advice\tHelp in marketing function\tFacilitate production continuity\tStorage(b)\xa0Services to Retailer\tAvailability of goods\tMarketing support\tGrant of credit\tSpecialised knowledge\tRisk sharing(ii)\xa0Retail Trade\xa0Retail trade refers to sale of goods in small lots to the final consumers. A retailer buys goods from a wholesaler and sells them to the consumer.(a)\xa0Services to Consumers\tReady or quick supply\tWide variety\tGuiding consumers\tDemonstration and after sale services\tHome delivery\tConvenient location\tCredit facility(b)\xa0Services to Wholesaler and Manufacturer\tReady market\tProviding information\tRisk bearing\tDistribution of goods to distant places

What do you understand by internal trade? Discuss it\'s types in brief.