Automatic vending machines and the internet are examples of which of the following types of trade?
- Rural Marketing Centres
- Wholesale Trading
- Urban Marketing Centres
- Retail Trading
The Correct Option is D
Solution and Explanation
Automatic vending machines and internet platforms are direct channels through which goods are sold directly to consumers. This activity is part of Retail Trading, which involves selling goods in small quantities to the end-users or consumers.
- Rural Marketing Centres: Hubs for marketing agricultural produce in rural areas.
- Wholesale Trading: Involves selling goods in large quantities to retailers or other merchants.
- Urban Marketing Centres: Markets located in cities but are not specific types of trade.
Thus, vending machines and online sales exemplify Retail Trading.
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The act of opening up economies for trading is known as free trade or trade liberalisation. This is done by bringing down trade barriers like tariffs. Trade liberalisation allows goods and services from everywhere to compete with domestic products and services.
Globalisation along with free trade can adversely affect the economies of developing countries by not giving equal playing field by imposing conditions which are unfavourable. With the development of transport and communication systems, goods and services can travel faster and farther than ever before. But free trade should not only let rich countries enter the markets, but allow the developed countries to keep their own markets protected from foreign products.
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