TRADE
BWSR Trade is the act of buying, selling, or exchanging goods and services between people, businesses, or countries. Our Trade process allows people and nations to obtain goods they cannot produce themselves or acquire products at a lower cost than producing them domestically. It is essentially the lifeblood of economies because it enables specialization, increases efficiency, and promotes growth. Our trade, means the transfer of ownership of goods or services from one person or entity to another in exchange for money, goods, or services. The term “trade” does not only include physical goods like food, clothing, machinery, and raw materials, but also intangible services such as banking, tourism, and information technology. BWSR Trade Area: Local Trade: Between individuals or businesses within the same community or city. National Trade: Within the borders of a country, also known as domestic trade. International Trade: Between different countries, involving exports and imports. Our Trade is regulated by various rules and agreements to ensure fair competition and smooth transactions. Organizations like the World Trade Organization (WTO) play a key role in setting guidelines for international trade.
BWSR Types of Trade: @ Domestic trade refers to the buying and selling of goods and services within the boundaries of a country which is also called BWSR internal trade. @ International trade involves the exchange of goods and services between countries. It is essential because no country can produce everything it needs. International trade can be categorized as: Import: Buying goods and services from other countries, Export: Selling goods and services to other countries, Entrepot Trade: Importing goods from one country and re-exporting them to another country, International trade is influenced by factors like comparative advantage, exchange rates, tariffs, and trade agreements. BWSR Modes of Trade: Cash Trade: Immediate payment is made in cash for the goods purchased. Credit Trade: Goods are delivered now, but payment is made later. Barter System: Exchange of goods for goods without using money (rare in modern times but still exists in some forms). .
