In the absence of international trade of goods and services, it would not have been possible for the world community to consume goods and services produced in other countries that the people in these countries are able to consume and enjoy a higher standard of living.

 Itinerant retailers are as :
1. Paddlers and hawkers : Paddlers and hawkers are probably amongst the oldest form of retailers in the market place who have not lost their utility even during the modern days. They are small producers or petty traders who carry the products on a bicycle, a hand cart, and move from place to place to sell their merchandise at the door-steps of the customers. They generally deal in non-standardized and low-value products such as toys, vegetables and fruits, fabrics etc. They are also found in streets of residential areas, place of exhibitions or meals, and outside the schools, during the lunch break.
2. Market Traders : Market traders are the small retails who open their shops at different places on fixed days or dates, such as every Saturday or alternate Saturdays, and so on. These trades may be dealing in one particular line of merchandise, say bricks or ready made garments, toys or crockery, or alternatively, they may be general merchants. They are mainly catering to lower-income groups of customers and deal in low-priced consumer items of daily use.
3. Street traders (Pavement Vendors) : Street traders are the small retailers who are commonly found at places where huge floating population gathers, for example, near railways stations and bus stands, and sell consumer items of common use, such as stationary items, eatables, ready-made garments, newspapers and magazines.
4. Cheap jacks : Cheap jacks are such petty retailers who have independent shops of a temporary nature in a business locality. They keep on changing their business from one locality to another, depending upon the potentiality of the area. However, the change of place is not as frequent as in the case of hawkers or market traders. They also deal in consumer items and provide service to consumer in terms of making the products available where needed.                          

Laws are generally passed to keep a check on unethical practices. They are the results of social pressures. When society considers a practice , unethical, it may exercise its influence to get that practice declared illegal. Ethics may be defined as the socially accepted standards of moral conduct, They constitute a set of principles or rules governing j behaviour. All the ethics cannot be given the shape of law, so ethics are broader than law.

mport procedure :

1. Obtaining I.E.C. No. : Before starting the import procedure, the importer has to obtain an I.E.C. (Import-Export Code) number. This number is used in filling the formalities of import procedure, To get this number, the importer has to apply to 1 the regional Import-Export Licensing Authority in the prescribed form.
2. Obtaining Registration Cum Membership Certificate (RCMC): Importers get various benefits in the form of subsidies and exemption in excise duty, tax, etc. To get these benefits, they have to show RCMC. After getting the I.E.C. number, the importer applies for RCMC. The RCMC is issued by:
   (i) Import Promotion Council.
   (ii) Federation of Indian Import Organisation.
   (iii) Import Development Authority, etc.
   Along with the application, the importer has to submit a bank certificate and IEC number. If the authority is satisfied, then they will issue RCMC.
3. Opening a letter of credit: better of credit is issued by the importer’s bank in favour of the exporter. In this letter, the bank undertakes guarantee for making payment on behalf of the importer. The importer approaches his bank and instructs the j bank to issue a letter of credit in favour of the exporter. The importer also instructs the bank about the documents to be collected from exporter before making payment.
4. Arrival of goods : Goods are shipped by the exporter as per the specifications of the importer. When goods reach the importer’s country, the captain of the ship informs the dock officer and instructs him to receive the goods and record the details about the goods on the document called
   ’ import general manifest. This document gives details of about imported goods.
5. Informing importer : After the arrival of goods, the dock authorities inform the importer about the arrival of goods. The importer prepares a document called bill of entry which contains details about the imported goods and submits this document to the customs officer to get customs clearance.
6. Customs clearance : The customs officer examines the bill of entry carefully and assesses the custom duty to be paid by the importer and after assessing the duty amount, the bill of entry is given to the appraiser officer who verifies the details given in the bill. If the appraiser officer is satisfied with the information given in bill of entry, then he returns the bill to the importer for making payment of custom duty

The government company is a suitable form of organisation where
(i) Government wants to control a company in the private sector without nationalisation.
(ii) Government wants to go for a collaboration with private enterprise.
(iii) The projects require government planning and funds.
(iv) The government wishes to promote and develop a field of economic activities in the public sector.