Trade

Meaning :

Trade refers to the exchange of goods and services between two parties, which can involve buying, selling, or bartering items for money or value. It serves as the

foundation of all business and global economic activity.

Example : 

For example, when a shopkeeper purchases products in bulk and sells them to  cust omers, that is an instance of trade.

How to Understand : 

Trade is about giving something to receive something in return.

It can occur between individuals, businesses, cities, or countries (known as international  trade).

Without trade, individuals would struggle to obtain everything they need on their own.

Importance :

Trade helps businesses grow and expand their reach to new customers.

It boosts employment and income levels by creating job opportunities.

Trade enhances the availability of products, providing consumers with more options.

It encourages competition and innovation, resulting in improved goods and services.

Trade supports economic development, aiding in the growth of communities and  nations.