Explain the concept of trade and list three types of trade, including export and import trade.

Hey Ignatius, good to see you again. Here's the solution to the first question on trade: a) Trade is the exchange of goods and services between two or more parties. It can occur within a country (internal trade) or between countries (international trade). b) Three types of trade are: • Internal trade (or domestic trade) • International trade (or foreign trade) • Barter trade (exchange of goods or services for other goods or services without using money) Export trade: This refers to the selling of goods and services produced in one country to buyers in another country. Import trade: This refers to the buying of goods and services from another country for use or sale in one's own country. Send me the next one 📸