What are the main features and types of internal trade?
Understand the Problem
The text discusses internal trade, covering its meaning, features, and types, within the context of the CBSE syllabus. It aims to explain how goods and services are traded within a country and the various classifications of internal trade related to wholesalers and retailers.
Answer
Main features: local transactions, payments in local currency, few formalities, diverse transport. Types: wholesale and retail trade.
The main features of internal trade are: transactions occur within a country, payments are made in the local currency, few formalities are needed, and various transport methods are used. The types of internal trade include wholesale and retail trade.
Answer for screen readers
The main features of internal trade are: transactions occur within a country, payments are made in the local currency, few formalities are needed, and various transport methods are used. The types of internal trade include wholesale and retail trade.
More Information
Internal trade is crucial as it facilitates the smooth distribution of goods and services within a country, supporting local economies.
Tips
Mistakes often include confusing internal trade with international trade; remember, internal trade occurs within national borders.
Sources
- Types of Trade - Features - Google Sites - sites.google.com
- Internal Trade and its Types - GeeksforGeeks - geeksforgeeks.org
- Understand the Internal Trade: Definition, Types & Importance - plutuseducation.com
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