TRADE

Commerce SSS1 First Term

WEEK 6

TRADE

Performance Objectives

The student should be able to:

1. Know the meaning of Trade and the two types of Trade
2. Explain the relationship between different types of trade

Content

Trade is simply the buying and selling of goods and services to satisfy human want both locally and internationally.

 TYPES OF TRADE

Trade is divided or classified into two major groups. These are Home trade and foreign trade.

Home trade

Home Trade is the act of buying and selling of goods and services within a particular country. For example, trading from Lagos to Benin or from Gombe to Aba, Ede to Uyo, is domestic trade. It involves the use of the same currency,…