Trading can be defined as the act whereby people buy and sell goods and services. Trading has been there over time and even with the evolution of human communication.
How was trading done in the earlier days?
In the earlier days trading was limited due to location and distance. People movements were greatly restricted and thus they could not travel far to do their barter trade.
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Another disadvantage of trading at this time is the constraint of time during this trading process. Traveling to the market most probably took a long time, and also spending an entire day in the market. Sometimes it was hard to find a seller wiling to exchange what you had for what you had.
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Modern day trading
With the advancements in technology, trade has continued to evolve. This exchange of goods and services has been ,made especially easier due to transport networks. It is very easy today for a person in Europe to get something in Africa in just a matter of days
Transport means like trains, planes etc. have made it possible to deliver quick services to people miles away.
How the internet has impacted trading.
One of the biggest boost of trade has to be the internet. Practically every business today relies on the internet to help it gets its maximum profits. Since the world has become very digital, everyone doing any buying and selling of goods and services needs to keep in touch with the internet.
One of the major contributions of the internet to traders is that the world has become smaller literally. It is now possible to communicate worth buyers and sellers from all parts of the world without leaving ones location.
It is possible for a buyer in Africa for instance to find a buyer in Asia and do business with them without traveling anywhere. It is easy now to use the internet to advertise ones business to a large group of people worldwide using the internet.
The internet has opened the market to the whole world which opens up competition. As each company tries to outshine the other for more customers; the level of trade is improved. The level of trade is improved as each company tries to outdo each other for more customers. Where there is a healthy competition, there is better goods and services for the consumers.
Trading has improved and will continue improving as long as there are advancements in various sectors. the biggest impact on trade come from the communications and transport sector which keep on advancing. We can therefore expect the selling and buying of goods and services to get better with the advancements in these two sectors.