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Changes in the Trading Industry Trading is seen as the buying of goods and services among humans. Trading has been there over time and even with the evolution of human communication. How was trading in the earlier days? Due to some factors like location and distance, trade was greatly limited in the earlier days. Barter trade was greatly restricted by the fact that people could not travel very far to exchange their goods.
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Time was another constraining factor during these earlier days One had to probably spend a lot of time traveling to the market and most likely spend the whole day there. Failing to find a customer willing to exchange what you had for what you wanted was another disadvantage of this trade.
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Modern day trading Trading has however evolved over time and especially with the advancement on technology. One of the major things that has improved the exchange of especially goods is the transport networks. It is very easy today for a person in Europe to get something in Africa in just a matter of days Transport means like trains, planes etc. have made it possible to deliver quick services to people miles away. Impacts of the internet on trading the internet perhaps happens to be the biggest boost for trade. Practically every business today relies on the internet to help it gets its maximum profits. It is paramount for anyone involved in trading to keep in touch with the internet. One of the major contributions of the internet to traders is that the world has become smaller literally. This is because it is now possible to interact with buyers and sellers from all corners of the world without leaving ones location. This means that a seller in Africa can communicate with a buyer in Asia, negotiate and finally trade with them without having to board a plane. With the internet, it is now very easy to advertise their trade to a larger group of people all over the world. The internet has opened the market to the whole world which opens up competition. This improves the level of trade as each business tried to outdo the other to get more costumers. consumers can be assured of better goods and services where there is a healthy competition. Trading has improved and will continue improving as long as there are advancements in various sectors. These sectors that have the biggest impact on trade include transport and communications. We can therefore expect the selling and buying of goods and services to get better with the advancements in these two sectors.