Question

Explain the different types of trade with example (for 6 class) (please fast)​

Answer 1

Internal Trade
Internal trade is home trade. It is conducted between different regions and geographical locations of the same country. It helps to maintain a level of coordination and exchange of goods between every city of the state.

Wholesale Trade
It is the process of buying products in huge quality from manufactures and then distribute to retailor so that they sell it to consumers. Wholesalers are used to supplying the product to a retailer since manufacturing and production are happening. wholesalers are the middle man between retailers and manufacturers because companies can’t sell their products direct to consumers. There are specific charges of wholesalers that depend upon the quantity and service of the product.

Retail Trade
In this, retailer buy a small number of goods from wholesalers and sell it to the end consumers. It establishes the link between wholesalers and consumers. Also, it is the last step to make the product available for consumers to use. There are two types of retailor i.e., large and small retailers.

External trade
External trade is the process of selling or buying products and services from one country to another. It is also called foreign trade. It has no boundary, anyone from the globe can buy and sell anything to any region and state of the world. It makes business global and makes the easy availability of every product for the whole world. There are some national and international limitation and laws for external trade which save traders from any fraud.

Export Trade
When trading occurs between the trader of one country and the trader of another country by selling any product it is called export trade. For example, traders in America sell any product to the trader in Germany.

Import Trade
When a trader of one country buys any goods from the trader of any other country called import trade. For example, traders located in England buy any products from traders in America to sell it in its region.

Entrepot Trade
When a trader of one country purchases any product and goods from the trader of any other country and makes some changes and integration in it for reselling this product to any other country is called entrepot trade.