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Changes in the Trading Industry

The act of buying and selling of goods and services among humans is called trading. 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?

Due to some factors like location and distance, trade was greatly limited in the earlier days. 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. One had to probably spend a lot of time traveling to the market and most likely spend the whole day there. 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

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. It is possible to deliver a parcel or goods to a person in Europe from Africa in a matter of days for example.

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

One of the biggest boost of trade has to be the internet. Practically every business today relies on the internet to help it gets its maximum 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.

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. The internet has also made it very easy to advertise ones business to a larger group of people worldwide.

There is a lot of competition in the market place as the internet opens these business to the world. This improves the level of trade as each business tried to outdo the other to get more costumers. 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