Scribd
Upload
32 views2 pages

GR 7 Market Around Us Notes (5122)

This document discusses different types of trade and markets. It defines trade as the buying and selling of goods and services, and explains its importance for production, consumption, specialization, and employment. Internal trade occurs within a country, while external trade occurs between two or more countries through exports and imports. Wholesale trade involves bulk buying and selling between manufacturers and retailers, while retail trade sells to consumers in smaller quantities. Retail marketing can be done through itinerant retailers who move from place to place or fixed shops. The document outlines these different types of trade.

Uploaded by

opsharpedge
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
32 views2 pages

GR 7 Market Around Us Notes (5122)

This document discusses different types of trade and markets. It defines trade as the buying and selling of goods and services, and explains its importance for production, consumption, specialization, and employment. Internal trade occurs within a country, while external trade occurs between two or more countries through exports and imports. Wholesale trade involves bulk buying and selling between manufacturers and retailers, while retail trade sells to consumers in smaller quantities. Retail marketing can be done through itinerant retailers who move from place to place or fixed shops. The document outlines these different types of trade.

Uploaded by

opsharpedge
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
You are on page 1/ 2

CHAPTER: 8 MARKET AROUND US

Learning objective:
Understand markets and their functions to link scattered producers and consumers.
To examine the importance of a market

1. Define trade and state its importance.


‘Trade is defined as the business activities which deals with buying and selling of
goods and services.’
Trade is of great significance for production as well as consumption of goods.

 It enables the producers to concentrate on their production activities.


 It enables the consumers to avail goods at the required place and at the required
time.
 It helps in the specialisation and large-scale production.
 It increases the standard of living of people.
 It provides employment opportunities to various persons engaged in trade.
2. Distinguish between external and internal trade.

Internal trade External trade


 Buying and selling of goods with  Buying and selling of goods
in a country is called Internal between two or more countries is
trade. called External trade.
 It is also called home trade.  It is also called foreign trade.
 There are two types-wholesale  There are two types-import and
trade and retail trade export.

3. Compare and contrast wholesale trade and retail trade.

Wholesale trade Retail trade


 Goods are bought in bulk  Goods are bought in small
quantity. quantity.
 Wholesaler act as a link between  Retailer act as a link between
manufacturer and a retailor. wholesaler and consumer.
 Goods are bought directly from  Goods are bought from
the manufacturers. wholesalers.
 Wholesaler generally deal in one  Retailer generally deal in variety of
or few items only. items.

4.Retail marketing is comprised of activities related to selling product directly to consumers.


Describe its types.
There are two categories of retail trade. They are:-
1. Itinerant retailors: - Retailors who keep moving from place to place to sell their
goods. Eg: Hawkers, street traders.
2. Fixed shop retailors: - Retailors who run their business in fixed shops where
customers can easily reach and make their purchases. Eg; stationery shop, Lulu super
market.

5. Illustrate different types of trade.


TradeTRADE
CCCCCCCC

INTERNAL EXTERNAL

WHOLESALE RETAIL EXPORT IMPORT

You might also like

pFad - Phonifier reborn

Pfad - The Proxy pFad of © 2024 Garber Painting. All rights reserved.

Note: This service is not intended for secure transactions such as banking, social media, email, or purchasing. Use at your own risk. We assume no liability whatsoever for broken pages.


Alternative Proxies:

Alternative Proxy

pFad Proxy

pFad v3 Proxy

pFad v4 Proxy