Retail trader - an individual trader who trades with money from personal wealth, rather than on behalf of an institution., Wholesale trader - traders buy large quantities of goods from manufacturers and resell them in smaller quantities to retailers, businesses, or professional users, usually without altering the products., Domestic trade - This type of trade involves transactions between individuals, businesses, and entities located within the same nation, and it operates under the country's economic regulations and policies., International trade - It allows nations to obtain products and services that they may not produce domestically, increase their economic growth, and access global markets. International trade is governed by international trade agreements and regulations to ensure fair and organized transactions between countries., Imports - are purchased by domestic consumers, businesses, or governments from foreign suppliers, and they play a key role in international trade by allowing countries to obtain products and services that are not readily available or are more cost-effective from abroad., Exports - They represent the outbound trade of a nation and are a crucial component of international trade, contributing to a country's economic growth by generating revenue, creating jobs, and promoting industry., Needs - are essential items or conditions required for survival and well-being. They are fundamental for human existence and include basic physiological necessities such as food, water, shelter, and clothing, as well as psychological and social needs like safety, love, and belonging., Wants - are desires for goods, services, or experiences that are not essential for survival but can enhance quality of life and provide satisfaction. They go beyond basic needs and include items or experiences that people wish to have, such as luxury goods, entertainment, and leisure activities., Trade - is the exchange of goods, services, or both between parties, typically involving a buyer and a seller. It can occur within a country (domestic trade) or between countries (international trade)., Barter - is a system of exchange in which goods or services are directly traded for other goods or services without using money as a medium of exchange. Participants negotiate the relative value of their goods or services and provide them to each other in a mutually agreed-upon trade., Local trade - refers to the buying and selling of goods and services within a specific, limited geographic area, such as a town, city, or region. It typically involves transactions between local businesses, consumers, and producers., State trade - refers to the exchange of goods and services within a specific state or province in a country. It involves transactions between businesses, consumers, and government entities,

Why do nations trade?? Cam8

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