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Nature And Purpose Of Business

Question

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Define trade.

Solution

Trade refers to the process of sale, transfer or exchange of goods. It helps in making the goods produced available to ultimate consumers or users.

Some More Questions From Nature and Purpose of Business Chapter

Explain the concept of business.

Define the term 'industry'.

Define 'Commerce'.

Define trade.

Define internal trade.

Define External Trade.

Define risk.

Name the functions of business.

How is business an economic activity?

Explain how industry, trade and commerce are related.

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