Learn with steem contest: Trade

Good day dear steamians on this wonderful community: @steem4nigeria. I thank @fredquantum for coming up with this educative contest.

Trade is the buying / selling of goods and services. Trade has two main branches:

Home trade and foreign trade

HOME TRADE

This is the buying/selling of goods and services within a country. It is also referred to as internal or domestic trade. Home trade is divided into retail trade and wholesale trade.

FOREIGN TRADE

This is the buying and selling of goods and services between two or more countries. The exchange of goods and services between Nigeria and England is an example of foreign trade. Foreign trade is also referred to as international or external trade. Foreign trade is divided into export, import and entrepot.

IMPORT TRADE

Import trade is the buying of goods and services from another country to your own country. For instance, a trader in Nigeria who buys goods or services from Ghana is involved in import trade. Import trade involves both visible import, which includes commodities or tangible goods, and invisible import, which includes services. Services rendered by foreign shipping companies, banks, etc., from other countries to an importing firm from Nigeria are examples of invisible import trade.

EXPORT TRADE

Export trade is the selling of goods and services from your country to another country or other countries. Goods produce in Nigeria that are sold in other country such as USA, China, Togo, etc. are examples of export trade. Export trade is also divided into visible and invisible trade.

ENTREPOT TRADE

Entrepot Trade involves the importing of goods from one country for the purpose re-exporting to another country. It means importing for re-exporting. When goods imported into Nigeria from South Korea are re-exported to Ghana, it is an example of entrepot.

AIDS TO TRADE

Aids to trade are services or economic activities that facilitate the distribution of goods and services. Aids to trade are essential to trade as trade cannot successfully take place without them. Aids to trade include transportation, ware-housing, banking, insurance, communication and advertising.

Thank you for reading through this content, I believe you've learnt.
I invite @bela90 @oasiskp @manuelhooks to be part of this contest.