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Some international economic organisations were set up:

• To smoothen the process of trade between countries of different economic status. 
• To facilitate the growth of international trade.

Marketing involves price of a commodity, its sales promotion, its advertising and its proper distribution.

• In the traditional marketing system, the farmers used to sell their products in the local market at whatever price available. This is because the fruits and vegetables are perishable, so the farmers used to incur losses, 
• However, the modem farmers have acquired skills in marketing. They are aware of the trends in the market. 
• They produce food grains and fruits as per the international standards. 
• They undertake grading and packaging of their products. The presentation of any product has become indispensable now. 
• They advertise the quality of their product and keep the same for sale, along with samples, in the mall. 
• These commercial-minded farmers contact the supermarkets and exporters through the internet. 
• As a result, their products are sold at a higher price in the malls. They also fetch a good price from exports.
• Thus marketing is as important as the cultivation of crops. By following modem marketing techniques, the income of the farmers can increase and that can improve their standard of living.

When there is buying and selling of goods it is known as visible trade.

(i) India is not a self-sufficient country as it depends on other countries for crude oil, machinery, etc.

(ii) The place where there is excess production more creates ‘supply’ for those products.

(iii) International trade processes are relatively more difficult than local trade.

Important trade organisations in Asia are: Association of South East Asian Nations (ASEAN)

• To expand social and cultural harmony along with economic growth in South East Asia. 
• To promote regional peace.
• To promote tax waivers for trade growth in member states.

Asia Pacific Economic Co-operation (APEC)

• To promote free trade and economic co¬operation in the Asia-Pacific Ocean region. 
• To promote regional and technical cooperation among members.

EU stands for European Union which comprises of 28 European countries.

Trade refers to buying and selling of goods and services to fulfil each other’s needs.

(i) Retail Trade.

(ii) Wholesale Trade.

(iii) International Trade.

(iv) Wholesale Trade.

OPEC stands for Organisation of Petroleum Exporting Countries.

WTO stands for World Trade Organisation. The main objectives of WTO are:

• To provide platform for negotiations in international trade. 
• To handle the differences related to trade. 
• To monitor the trade policies of member states. 
• To provide a technological assistance and training to developing countries.

(i) barter

(ii) consumers

(iii) retailers

(iv) manufacturers

(i) price

(ii) credit

(iii) consumers

(iv) Super market

(i) Chain store

(ii) One price shop

(iii) American

(iv) foreign

1. inside

2. internal

We as consumers use these commodities.

Toothpaste, powder, tea, hair oil, biscuits, food grains.

Some of the measures that we can suggest to the farmers so that then commodities can fetch a better price are:

• Clean their vegetables, fruits well. 
• Grade the commodities. 
• Pack them nicely. 
• Advertise their farm products. 
• Sell it in the market.

Producers are the source of supplies.

1. One price shop are shops where all the articles are sold at one standard and fixed price. 

2. Such shops sells variety of goods of daily use. 

3. Goods at such shops are sold at lower prices.

4. E.g. of goods sold at such shops are – watches, shampoos, household articles, crockery, etc.

1. General store is a retail shop which deals in a wide variety of goods located in a residential locality.

2. Such store sells goods of daily needs like food grains, soaps, stationery, medicines, oils, biscuits, etc. 

3. They provide home delivery to their customers. 

4. They buy goods from the wholesalers or directly from the manufacturers.

Correct Answer is  Retailer

Correct Answer is General stores

Correct Answer is Consumers

Departmental stores

Authorised dealers have authorised dealership of particular manufacturer’s goods.

(i) One price shop

(ii) Street traders

(iii) Indent

One price shop.

Speciality shops

Correct option is (b) Supermarket

Correct option is (a) Departmental

1. An authorized dealer only deals with one line of products from one manufacturers. 

2. They do not have products of other manufacturers. 

3. They promote the goods by providing window display, advertising and also having attractive schemes for selling the goods. 

4. Thus, authorized dealer do not have other product of other manufacturers.

Clearing and Forwarding agent

Correct option is (c) fixed

1. The wholesaler carries various marketing functions like warehousing, advertisings, sales promotion, etc. on behalf of the manufacturers. 

2. They also perform various marketing functions like assembling, warehousing, transporting, grading, packing, advertising and financing. 

3. These functions help the retailers and a manufacturers as they can concentrate on the production and selling activities. 

4. Thus, wholesaler performs various marketing functions.

One price shops are shops where all articles are sold at one standard and fixed price.

Correct option is (a) wholesaler

1. General stores are found in residential areas and offer shopping convenience to the customers. 

2. They deal in wide variety of goods. 

3. They deal with day to day useful goods. 

4. Thus, general stores are generally situated near residential areas.

1. Retailer is a person who buys goods on smaller quantities. 

2. Retailer provides home delivery of goods to customer at nominal cost or free of cost.

3. This helps them to improve relations with the customers and maintain permanent relations with the customers. 

4. Thus, retailer provide home delivery of goods to customers.

A mall is a large enclosed shopping complex comprising of various stores business cinema theaters and restaurants.

Correct Answer is  Import/Exports

Correct Answer is  General Stores

(i) When the trade activities are conduct between two or more countries, it is called as external trade.

(ii) Import trade refers to the purchase of goods and services from foreign country.

(iii) The price charged in departmental stores is comparatively high.

(iv) Retailer requires less capital.

(v) Tariff rates of various countries affect the external trade.

Speciality shop spend more an advertisement.

(i) Producer, Wholesaler, Retailer, Consumer.

(ii) Local Market, State Market, National Market, International Market.

(iii) Preliminary Stage, Pre-import Stage, Import Stage, Post-import Stage.