Ch 10Internal Trade — Class 11 Business Studies, concept-first.

Trade means the buying and selling of goods and services with the aim of earning a profit. It is one of humanity's oldest activities — people have traded in one form or another since the earliest days…

Internal trade is the buying and selling of goods and services within the boundaries of a nation. Whenever a product is bought from an individual or an establishment located inside the country, it cou…

Wholesale trade is the buying and selling of goods and services in large quantities for the purpose of resale or intermediate use.

Wholesalers offer several important services to the producers of goods and services:

Wholesalers also render valuable services to retailers:

A retailer is a business enterprise engaged in selling goods and services directly to the ultimate consumers.

Retailers render invaluable services to wholesalers and producers:

From the consumers' point of view, retailers provide these important services:

There are many types of retailers in India. To understand them, it helps to group them into common categories, and experts use several bases of classification:

Itinerant retailers are traders who have no fixed place of business. They keep moving with their wares from street to street or place to place, in search of customers.

Fixed shop retailers are the most common type of retailing seen in the marketplace. As the name suggests, these retailers maintain a permanent establishment to sell their merchandise, and so, unlike i…

Associations of business and industrial houses are formed to promote and protect their common interests and goals.

Following the principle of "One Nation, One Tax" and the aim of building a single unified national market, the Government of India rolled out the Goods and Services Tax (GST) with effect from 1 July 2…

- Internal trade — buying and selling of goods and services within the boundaries of a nation, with no customs or import duty.

- Trade is the buying and selling of goods and services to earn profit. By the geographical location of buyers and sellers it is of two kinds — internal trade (within a country) and external trade (be…