Goods due to fire, flood, etc. Is covered by it.

3. : The different means of transport like railways, ships, airlines,

etc. help in the transfer of goods from their place of production to the ultimate consumer.

4. Goods more than market demand are stored, hence it is

another aids to trade.

N

E.

F.

owadays it is the biggest source of selling goods.

They are responsible for the completion of transfer, exchange, or sale of goods from manufacturer to the ultimate consumer.

Task 6. Choose the correct definitions for each word.

1. t

   1. E-commerce is ...

   he buying and selling of goods and services at the markets;

2. the buying and selling of goods and services on the Internet.

1. t

   2. Wholesale is ...

   he sale of goods, usually in large quantity, for the purpose of resale to consumers;

2. the storage the sale of goods, usually in quantity, for the purpose of satisfying consumers’ needs.

1. i

   3. Brokers are

   ndependent firms or individuals whose main function is to bring buyers and sellers together to make sales;

2. independent firms or individuals whose main function is to separate buyers and sellers together to make sales.

1. t

   4. Goods are...

   angible (things which can be seen and touched) physical products which are transferred from a buyer to the seller (consumer) to fulfil the latter’s need;

2. tangible (things which can be seen and touched) physical products which are transferred from a seller to the buyer (consumer) to fulfil the latter’s need.

4. Retailing is ... a) the sale of goods or commodities in small

quantities directly to consumers;

2. the sale of goods or commodities in large quantities directly to consumers.

Task 7. Read and translate the texts describing the Forms of Trade.

Fairs

Trading is as old as mankind. A network that allows trade is called a market. One of the elements of market infrastructure is fair. Fair is a numerous and solemn gathering of people to present or trade produce or other goods, to parade or display animals and often to enjoy associated carnival or funfair entertainment. It is a temporary market and is held at regular intervals and fixed locations, and brings buyers and sellers together to exchange goods, demonstrate crafts, and trade ideas. Activities at fairs vary widely. Fairs are also known by many different names around the world, such as agricultural show, fete, county fair, exhibition or festival, market and show.

Commodity Exchanges

A special form of wholesale trade is commodity exchanges, where transactions are conducted through intermediaries-brokers that receive commissions from the amount of the contracts concluded with their help.

The purpose of commodity exchanges is to provide a centralized marketplace where commodity producers (commercials) can sell their commodities to those who wish to use them for manufacturing or consumption. Most commodity markets across the world trade in agricultural products and other raw materials (like wheat, barley, sugar, maize, cotton, cocoa, coffee, milk products, pork bellies, oil, metals, etc.) and contracts based on them. These contracts can include spot prices, forwards, futures and options on futures.

Commodities exchanges usually trade futures contracts on commodities, such as trading contracts to receive something, for example com, in a certain month. A farmer raising corn can sell a future contract on his com, which will not be harvested for several months, and guarantee the price he will be paid when he delivers; a breakfast cereal producer buys the contract now and guarantees the price will not go up when it is delivered. This protects the farmer from price drops and the buyer from price rises.

A commodity futures market (or exchange) is a public marketplace where commodities are contracted for purchase or sale at an agreed price for delivery at a specified date. Commodity exchanges in effect provide insurance against the risk of price changes by transferring that risk to speculators who are willing to assume it. Speculators and investors buy and sell the futures contracts in attempt to make a profit.