(a)With the aid of a diagram, illustrate six branches of trade and show six types of retail outlets. (b) State eight features of hawking.

Answer Details

(a) Branches of trade and types of retail outlets

Trade is divided into two main branches: Home Trade and Foreign Trade. These further break into the six branches shown below.

Six types of retail outlets:

1. Hawkers and pedlars
2. Market stalls and kiosks
3. Small unit (single-shop) retailers
4. Supermarkets
5. Departmental stores
6. Multiple shops (chain stores)

A tree diagram is required: Trade branches into Home Trade (Wholesale, Retail) and Foreign Trade (Import, Export, Entrepot), supported by Aids to Trade; the Retail node then branches into the six retail outlets listed above.

(b) Eight features of hawking

1. The seller moves from place to place with his goods in search of customers.
2. It requires very little capital to start.
3. Goods sold are usually few, light and easy to carry.
4. Products are mainly convenience goods (perishables, snacks, small household items).
5. Prices are not fixed; bargaining is common.
6. The hawker deals directly with final consumers.
7. It requires no permanent shop or fixed business premises.
8. Sales are usually on a cash basis with little or no record keeping.