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Question
Attempt the following.
State the role of auxiliaries to trade in trading activities.
Solution
Role of auxiliaries to trade:
- Auxiliaries to trade are all the services which help trade.
- Trade means buying and selling of goods. However, buying and selling is not possible unless it is supported by different services which will make the trade easy.
- There are different auxiliaries or services which support buying and selling. They are transport, warehousing, banking, insurance, advertising, etc.
- These services help the trader as well as the buyers. They remove the hindrances in the process of distribution and ensure the smooth flow of goods from the manufacturer to the consumer.
- In the modern world, manufacturers and consumers stay away from each other. It becomes very difficult for the manufacturer to contact the buyers and sell goods directly to them.
- In this regard auxiliaries to trade help in establishing a link between the manufacturer or seller to consumer.
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