Meaning and Types of Trade

The lesson explains the concept of trade as the buying and selling of goods. It describes the types of trade, including own trade and foreign trade, and outlines the services that facilitate trade. The role of Customs and Excise in foreign trade is also discussed.

• 01:36 “Also within an economy, it is among producers and consumers. So consumer is the final buyer. The producer of the product, it could be T. It could be even the BORVITA, the producer as giving us BORVITA in the markets. Wha...”
• 03:11 “The exchange of good and services in every state, like we said previously, in legal states, we can have traders of clothes, fabrics, different attires. These traders can come together in one location and form a trade uni...”
• 05:29 “And also, school shoes. There are some very good letters in Italy. So an Italian man can decide to produce good shoes, good school shoes. We used to remember this company called Batta. They bring shoes from abroad to Nig...”