If we talk in common language, we can explain ethics as an accepted principles of right or wrong that govern the conduct of a person, the members of a profession, or the actions of an organization. In the same way, business ethics can be explained as the guiding principles that companies and individuals hold themselves … Read more
International trade International trade (or foreign trade) is the exchange of goods and services between different countries. Foreign trade, which is the widest concept, has both advantages and disadvantages. The advantages and disadvantages of foreign trade significantly influence the overall economic disposition. Foreign trade allows nations to specialize in production. It creates larger but more segmented markets that, in … Read more
What is internal trade? Advantages & Disadvantages of Internal Trade Internal Trade: Pros & Cons Internal trade also termed as Domestic trade or Home trade is a trade where buying and selling transactions are done in between buyers and sellers of same locality, town, village, cities or from different states but within the same country … Read more
Retail Trade and its Classification There are many types of retailers . For proper understanding, it would be useful, to classify them into certain common categories. Different classifications have been used by experts to categorise retailers into different types. For example, on the basis of ‘size of business’, they may be categorised into large, medium … Read more
What is trade? Types of trade and examples Trade refers to the buying and selling of goods. A manufacturer sells his goods to the trader and the trader buys them and further sells them to the consumer. A trader is basically an intermediary between the consumers and the manufacturers. Trade is a part of commerce … Read more
Commerce, History and Functions Meaning of Commerce refers to the exchange of goods or services between two or more parties. It is a crucial aspect of trade that involves buying, selling, and the transfer of products. In the commerce definition, it is considered a subset of business that focuses on the sale of finished or … Read more