Home Trade

Syllabus tag: KCSE | Business Studies | Form 1 | Topic 7 Home Trade

Lesson objectives

By the end of this topic, you should be able to:

• Classify trade and state its importance.
• Describe types of retailer, small scale and large scale.
• Describe the functions of the wholesaler and the retailer.
• Identify the documents used in home trade and the terms of payment.

Summary

Trade is the buying and selling of goods and services, divided into home trade — within a country — and foreign trade. Home trade divides into wholesale and retail. The wholesaler breaks bulk between manufacturer and retailer; the retailer sells to the final consumer. Trade uses a standard sequence of documents and defined terms of payment.