In #business,goods and services are produced to be sold or exchange for a price in terms of money.So #a buyer simply exchanges (pays)money and in return gets goods or services from the #seller.
While goods and services are produced to satisfy human needs,the #trader or business person sells with a view to earning a profit.
Traders like to be in an area where there are #customers who are willing to buy the goods and services.This is known as #market demand.
There are various types of markets.Most village or locations have a #shopping centre.Here one can see a #line of shops.These are usually#soletraders carrying on business like #grocery green grocery,drapery and stationary. #Kiosk are also likely to be found on the roadside within the township.
In shopping centers there are #open-air markets where buying and selling takes place in the open air. #Hawkers who peddle their goods from place to place also set up temporary #stalls at strategic points by the roadside.
In the bigger towns, #supermarkets are quite common.These are very popular with consumers because one can get almost all the kinds of goods used at home.Moreover,commodities are fairly #cheap compared to those in ordinary shops.Even expensive items have fair prices.
On busy streets of big towns,one can shop from establishments known as trade #exhibitions.These are big shopping malls that have been sub-divided into several trading #stalls and kiosks.The stalls are run by individuals who specialize in a variety of trade commodities such as boutiques,electronics,electrical appliances, mobile phones and telephone bureaus.These #exhibition are crowd pullers because of the beautiful array of commodities and customers hope to enjoy good #bsrgains.These exhibitions remind you of #trade fairs that are organised regularly in big towns.
How do customers pay for the goods they buy?Most retails traders prefer #cash selling because it eliminates#deptors.In #credit selling,the trader allows a customer to take the goods and pay for them later at an agreed date.This kind of selling is quite common in businesses.However,traders exercise great care when #giving credit to customers.
The way in which #payment can be made depend on the nature of transactions.For example in #cashselling,currency notes and coins can be used.Where money is to be sent at a distance,bank cheques,postal orders and #money orders are suitable.In commerce and trade, #banks are a very convenient and safe means of making payments.
There is a common saying that"Honesty is the best policy".This is very true in business.Honest traders #supply goods and services at the #correct price and at the right time.They avoid evil practices such as the #correct prices and at the right time.They avoid evil practices such as #hoarding, smuggling and overcharging.They fix #fair prices for their goods/commodities.They #give correct change.They don't #short-change.They are also careful not to give #more change.
An honest trader never cheats #customers.In certain trades like #butchery and grocery,weighing scales are used.The trader should therefore #measures the correct weight of the commodity.
Customers are also encouraged by attractive #packaging.Manufacturers like to give their products special names known as #brand names so that they can be recognised by customers.So commodities need to be packaged neatly. #packets should also have essential information including users instructions and 'use/sell by'date