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ENTER-POT TRADE

Business Studies

TRADE

Meaning of Trade Trade is the buying and selling of goods and services. It can also be defined as the activities which cover exchange, buying and selling of goods and services   Branches of Trade Trade has three main branches which are as follows Home Trade: this is the act of exchanging, buying and selling of goods and services within a country. For an example: Mr. Ade in Lagos buys goods from Mr. Aminu in Kano . This is home trade because both the buyer {Mr. Ade} and the seller {Mr. Aminu} are Nigerians and they reside in Nigeria. In home trade only one currency e.g (naira in Nigeria) is in use. Home trade is divided in two wholesale and retail trade Wholesale Trade: involves buying in large quantities from the manufacturers and selling to the retailers. Those involved in wholesale trade are called wholesalers Retail Trade: this involves buying… Read More »TRADE

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