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'Dealing in local currency ' is …

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'Dealing in local currency ' is it the advantage or disadvantage of internal trade

Posted by Harsh Arora 5 years ago

CBSE > Class 11 > Business Studies

1 answers

Yogita Ingle 5 years ago

Advantages

1. There are no problems related to tariffs and exchange rates.

2. Shipping costs may not be there at all, or may be very low.

3. It helps to create more jobs within the country.

4. It facilitates the exchange of goods within the country.

5. It helps in the growth of the economy.

6. It helps to improve the standard of living of the people.

7. It ensures the availability of raw materials and helps in the growth of an industry.

8. It also helps in foreign trade because the traders from other countries contact the internal traders to get the products.

Disadvantages

1. A large amount of capital is required to start and run the trade.

2. It may not be possible to obtain professional management due to lack of funds.

3. Lack of resources or funds can restrict the growth of business.

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