What are auxiliaries of trade Class 11?

Auxiliaries To Trade

• Transport and Communication. Transportation carries goods form producers to traders and finally to consumers.
• Banking and Finance.
• Warehousing.
• Insurance.
• Advertising.
• Packaging.

What do you mean by auxiliaries to trade explain any two auxiliaries to trade?

Activities which are meant for assisting trade are known as auxiliaries to trade. (i) Transport, banking, insurance, warehousing and advertising are regarded as auxiliaries to trade. (i) These are services that help in removing various hindrances which arise in connection with the production and distribution of goods.

Why are auxiliaries important to trade?

The auxiliaries to trade help to remove the various bottlenecks such as place, time, person, risk & exchange.

What is meant auxiliaries to business discuss their significance for the growth of industries and trade?

Two business activities which are auxiliaries to trade are (i) Transport and Communication Production of goods generally takes place in particular locations. Transport facilitates movement of raw material to the place of production and the finished products from factories to the place of consumption.

Why are auxiliaries to trade included in both industry and commerce?

Commerce, therefore, includes both, buying and selling of goods i.e. trade as well as the auxiliaries such as transport, banking, etc. Commerce provides the necessary link between producers and consumers. Auxiliaries to Trade are Activities which are meant for assisting trade are known as auxiliaries to trade.

How do auxiliaries trade help industry and trade?

Activities that help in the process of trading are known as Auxiliaries to trade or Services to trade. These services help in removing the hindrances of place, time, money, risk, and information which may arise in the course of production and distribution of goods.

Which are auxiliaries?

Activities which are meant for assisting trade are known as auxiliaries to trade. These activities are generally, referred to as services because these are in the nature of facilitating the activities relating to industry and trade.

How does auxiliaries to trade help in the removal of hindrances in the process of exchange?

They are generally known as ‘Services’ since they play a supporting role for the industry and trade to happen. The auxiliaries help in removing the various hindrances which arise in connection with production, distribution and sale of goods. The hindrances may be in respect of persons, place, time, risk, finance, etc.

How many auxiliaries to trade are there?

Explain the any four auxiliaries to trade. – Sarthaks eConnect | Largest Online Education Community.

Which form of auxiliaries to trade helps in removing the hindrance of information?

Trade removes hindrance of person and Advertising removes hindrance of information.

What is meant by Nalangadi?

What is meant by Nalangadi? Answer: The place where the goods were sold was called ‘Angadi’ in the Pandiya period. Day market was called as Nalangadi.

Which auxiliary to trade removes the hindrance of risk?

Hindrance of Risk: Commerce removes the Hindrance of Risk by providing protection against various risks which may arise during storage of goods or during its transportation with the help of Insurance.