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If you’ve taken an economics class, or if you’ve spent any time looking into the factors that drive our global economy, you’ve probably heard the word trade. But do you know what trade actually encompasses? There are all kinds of different types of trade, and they aren’t all pretty! There’s also a lot to learn about them if you want to make sure that your own personal finances are as secure as possible!
(1) Air Trade
Air trade is the exchange of goods through the air. This type of trade typically involves cargo and passengers traveling in airplanes and helicopters. Many people think that air transport is the only type of transportation that falls under this category, but in reality, it also includes fixed-wing aircrafts like business jets and military aircrafts. Air transport is one of the most common types for international trade. The advantage to using this method over other methods is its ability to move things quickly and at a low cost. The disadvantage of using air transport for trade is that you can’t carry as many products with you as other methods allow.
(2) Aquaculture
Aquaculture is the farming of aquatic organisms such as fish, crustaceans, mollusks, and algae. Aquaculture is one of the most rapidly growing sectors in food production and a large contributor to global food security.
-Aquaculture can be freshwater or saltwater. -Freshwater aquaculture provides fresh protein for people living near the water source. -Saltwater aquaculture provides shrimp, salmon, oysters and other seafood.
-Fish species farmed include catfish, carp, tilapia and cod.
-Shellfish farmed include clams, mussels, oysters and scallops.
(3) Extractive Industries
Extractive industries are businesses that produce goods from raw materials they extract from the earth. Extraction can be done through mining, drilling, quarrying, or other means. Extractive industries are often associated with extraction and production of commodities like oil, natural gas, coal, gold, copper ore and diamonds. The three largest industries in this category include oil and gas extraction (49% of world's total), coal mining (22%), and metal ore mining (6%). is an example of a non-metal resource mined for the purposes of extracting material from it; in this case, clay. Clay is useful for ceramic products such as tiles and bricks. Other non-metallic resources include sand and gravel which are used for construction purposes such as roads or buildings.
(4) Manufacturing
There are many different types of trade, but it is most helpful to break them down into three main categories: manufacturing, distribution, and service. Manufacturing is the production process that transforms raw materials into a final product. Distribution deals with getting the product from the manufacturer to the consumer in a cost-effective manner. Service refers to any type of work that is done by an individual or company in order to satisfy a customer's needs. These trades include legal services, medical services, educational services, advertising services etc. The following chart breaks down the different types of trade according to these three classifications
(5) value-Added Processing
Value-added processing is a type of trade that involves adding value to your product. For example, if you are a baker, you could purchase raw ingredients and make them into delicious baked goods. This process adds value to the original raw materials, which is why it's called value-added processing. It is often used by companies as a way to reduce expenses and/or increase profits.
One popular company who uses this technique is Starbucks. They often buy coffee beans from farms, roast them in their own roasteries and then sell their finished products through retail locations or through grocery stores.
This provides Starbucks with an advantage over other retailers because they have control over all stages of production--from the farming process all the way up to selling the finished product!
(6) Waste Management
Waste management is a term used to describe the process in which things that are no longer wanted or needed are discarded. There are many types of waste management, but they all have one thing in common; they all discard unwanted materials. Waste disposal methods vary depending on what type of material is being disposed, and how hazardous it may be. For example, nuclear waste requires special storage and handling procedures to keep the material from harming people, animals, and the environment. The disposal of this type of waste can be expensive and dangerous, so there are many measures taken to ensure safety. On the other hand, radioactive medical wastes like needles, syringes, bandages, cotton balls soaked with blood or bodily fluids can pose a hazard if not handled properly. Disposal techniques for these items vary by institution. Some hospitals incinerate medical waste while others seal them in biohazard bags before disposing them as hazardous medical trash (HMT).
(7) Agriculture
Agriculture is the cultivation and harvesting of plant crops. It includes the production, distribution, and sale of crops. Agricultural products include produce such as fruits, vegetables, and grains. They also include dairy products, eggs, and meat from livestock that are raised on farms. Industrial: Manufacturing is a process in which raw materials are transformed into new goods or things for use by people or other machines. Manufactured items can be very complex and require many steps to complete. There are many different types of manufacturing, including metalworking, plastics manufacturing, electrical equipment manufacturing, automobile manufacturing (which includes electronics), paper making, printing and publishing (including digital), food processing.
(8) Service Industry
As globalization has increased, the service industry has grown in order to keep up with the increased demand for goods. The service industry includes any type of work that does not involve physical products and instead focuses on a person's labor. A common example is an auto mechanic who fixes cars or an interior designer who redesigns homes. Service industries have been around since the beginning of time and will likely be here long after we're gone because they rely on intelligence rather than physical goods. While it may seem as if the only way to make money in this world is through manufacturing, this couldn't be farther from the truth.
There are so many jobs in service industries available and so many possibilities to start one that you'll never know what you want until you explore them all!
(9) E-commerce
E-commerce, also known as online commerce or computer-mediated retailing, is the buying and selling of products and services over computer networks. It typically involves the use of an electronic device to connect the buyer to a seller. The largest e-commerce companies in the world are: Amazon, Apple Store, Ebay, AliExpress. Wholesale/Retail: A wholesale purchase is when you buy a product from a company at its actual cost (sometimes called wholesale cost) and then sell it for more than that amount; the difference between your cost and your selling price is what's called markup.
If you're going to be reselling the product you purchased, then you need to have this markup.
(10) tourism
Tourism is one of the most important types of trade in the world. It provides jobs, goods and services to millions of people in developing countries. Tourism is so important that UNESCO has declared it a basic human right.
There are many different kinds of tourism: cultural tourism, medical tourism, religious tourism, eco-tourism, adventure tourism and much more.
In order to understand the different types of trade you need to know what they are and what they do for the economy. Cultural tourism involves traveling to museums and historic sites. Medical tourism is when someone goes outside their home country for health care because costs are lower there. Religious tourism can be seen as pilgrimages or visits to holy places like temples or churches. Eco-tourism focuses on preserving natural habitats such as rainforests and other wildlife sanctuaries. Adventure tourists go on trips where they're going to encounter new things such as white water rafting, climbing mountains or hiking through jungles.
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