Business – Vitals

Trade is that branch of commerce which is concerned wit the sale,transfer or exchange of goods and services. It involves the buying and selling of goods and services.Trade is the necleus of commerce becuase all commercial services like transportation,storage,insurance,banking,packaging,advertising etc.revolve around trade.The super-structure of commerce is built upon the foundation of trade. Trade is of the following types:

1. Internal or Home Trade:It implies the buying and selling of oods within the boundaries of a counry.Payment for the goods sold is made in national currency either in cash or through he banking system.Such trade is also knwon as domestic trade or inland trade. Internal trade may be further classified into two categories as follow:

(a) Whole sale Trade:It refers to the purchase and sale of goods of a spcific variety in bulk.A wholesaler buys goods in large quantities directly from manufacturr(s) and sells them in comparatively smalll quantities to the retailers.Wholesale trade constiitutes a link between the producers and the retailers.