TRADE

Trade is the buying and selling of goods and services with the aim of making profits.
Trade involves the distribution of goods and services from the place of production to where they are needed for consumption.

Trade is divided into two categories, these are:

1. Home trade
2. Foreign trade

Home trade
This is involves buying and selling of goods and services within the boundaries of a country. For example, exchange of goods and services within the country of Tanzania.

Foreign trade
This is involves buying and selling of goods and services between two or more countries. It is also known as international trade. For example, exchange of goods and services between Tanzania and Kenya.

What is commerce?

Commerce it deals with the distribution and exchange of goods and services. Commerce help to bridge the gap between producers and final consumers of goods and services.