Nature And Purpose Of Business

Question

Define External Trade.

Solution

External or foreign trade consists of the exchange of goods and services between persons or organizations operating in two or more countries.
It is of three types:
(i) Import
(ii) Export
(iii) Entrepot

Some More Questions From Nature and Purpose of Business Chapter

Define 'Commerce'.

Define trade.

Define internal trade.

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Nature And Purpose Of Business

Define External Trade.

Some More Questions From Nature and Purpose of Business Chapter

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.

What is the role of profit in business?

How auxiliaries to trade help in removing hindrance?

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