Internal Trade When buying and selling of goods and services takes place within the geographical limits of a country. It is known as internal trade.
The main features of internal trade are
(i) The buying and selling of goods and services takes place within a country.
(ii) The payment are made and received in the home country only.
(iii) There are no or very few formalities to be completed by the traders.
. Types of Internal Trade
Internal trade can be classified into two categories.
(i) Wholesale Trade
It refers to the trade in which goods are sold in large quantities. The person who carries on wholesale trade is known as wholesaler.
(ii) Retail Trade
Retail trade refers to sale of goods in small lots to the final consumers. A retailer buys goods from a wholesaler and sells them to the consumer.
