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How Trading Changed With Time. Trading can be defined as the act whereby people buy and sell goods and services. This is an act that has been there over prehistoric times and with the evolution of human communication How was trading done 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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In these earlier days, the constraints of time was another disadvantage. 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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Todays modern day trading Trading has however evolved over time and especially with the advancement on technology. Transport networks is one of the major things that has improved this exchange of goods and services. A person in Europe for instance can get a good delivered to them from Africa in a matter of days. In transport as well, it is possible to deliver a service to someone miles away in a matter of hours as there are planes, trains etc. Impacts of the internet on trading Trade perhaps gets the biggest boost from the internet. Today, practically every business relies on the internet to help it maximize its profits. In a digital world , everyone involved in buying and selling of goods and services is advised 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. It is now possible to communicate worth buyers and sellers from all parts of the world without leaving ones location. It is possible for a buyer in Africa for instance to find a buyer in Asia and do business with them without traveling anywhere. It is easy now to use the internet to advertise ones business to a large group of people worldwide using the internet. 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. Trading has improved and will continue improving as long as there are advancements in various sectors. This sectors include communications and transport which have the biggest impact on any trade. As these twos sectors advance therefore, selling and buying of goods and services is also expected to get easier and better