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Changes in the Trading Industry Trading can be defined as the act whereby people buy and sell goods and services. This is something that has been there over a long period of time even at the evolution of human communication. How was trading done in the earlier days? In the earlier days trading was limited due to location and distance. People movements were greatly restricted and thus they could not travel far to do their barter trade.
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Another disadvantage of trading at this time is the constraint of time during this trading process. Due to the traveling involved, people used to waste a lot of time traveling to the meeting location and also spend the whole day at the market. Another disadvantage of this trade was failure to find the person wiling to exchange what you had for what he had.
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Modern day trading With the advancements in technology, trade has continued to evolve. One of the major things that has improved the exchange of especially goods is the transport networks. A person in Europe for instance can get a good delivered to them from Africa in a matter of days. Delivery of services to people miles away has also been made possible thorough things like planes, trains. How the internet has impacted trading. One of the biggest boost of trade has to be the internet. Today, practically every business relies on the internet to help it maximize its profits. Since the world has become very digital, everyone doing any buying and selling of goods and services needs to keep in touch with the internet. the internet has made the world seem smaller to mammy traders. This is because it is now possible to interact with buyers and sellers from all corners of the world without leaving ones location. A buyer in Asia for example can find a seller and Africa, negotiate and close a deal without having to leave their location. With the internet, it is now very easy to advertise their trade to a larger group of people all over the world. As the internet opens up t the businesses to the world competition also increases. As each company tries to outshine the other for more customers; the level of trade is improved. The level of trade is improved as each company tries to outdo each other for more customers. Where there is a healthy competition, there is better goods and services for the consumers. Advancements in various sectors will also ensure that trading continues improving all over the world. 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.