Question

What do you mean by ‘Internal Trade’ ? What are its two types ?

Answer 1

Internal Trade means buying and selling of goods and services within the boundaries of a nation. The two types are as follows:

(a) Wholesale trade - Purchase and sale of goods and services in large quantities for the purpose of resale or intermediate use is referred to as wholesale trade.

(b) Retail trade - Sale of varieties of goods and services in smaller quantities directly to the ultimate consumers is known as retail trade.