Advertisements
Advertisements
Question
Statement I: Trade means the sale, transfer or exchange of goods may be for cash or credit.
Statement II: Traders serve as link between producers and consumers.
Options
Statement I is wrong.
Statement II is wrong.
Both I and II are correct but II is not an explanation of I.
Both I and II are correct and statement I is an explanation of II.
Advertisements
Solution
Both I and II are correct but II is not an explanation of I.
Explanation:
Both statements are correct. Statement I accurately defines trade as the exchange of goods for money or other value, including credit, and Statement II correctly states that traders act as a crucial link between producers and consumers. However, Statement II does not explain Statement I; rather, the act of traders serving as a link is a result or function of trade itself, not its definition or explanation.
