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    GR 7 Market Around Us Notes (5122)

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    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.

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    GR 7 Market Around Us Notes (5122)

    Uploaded by

    opsharpedge
    9 views2 pages
    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.

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    Gr 7 Market Around Us Notes[5122]

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    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.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pdf or txt
    9 views2 pages

    GR 7 Market Around Us Notes (5122)

    Uploaded by

    opsharpedge
    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.

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    of 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

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