Social Studies Answer the question

• In the traditional marketing system, the farmers used to sell their products in the local market at whatever price available. This is because the fruits and vegetables are perishable, so the farmers used to incur losses,
• However, the modem farmers have acquired skills in marketing. They are aware of the trends in the market.
• They produce food grains and fruits as per the international standards.
• They undertake grading and packaging of their products. The presentation of any product has become indispensable now.
• They advertise the quality of their product and keep the same for sale, along with samples, in the mall.
• These commercial-minded farmers contact the supermarkets and exporters through the internet.
• As a result, their products are sold at a higher price in the malls. They also fetch a good price from exports.
• Thus marketing is as important as the cultivation of crops. By following modem marketing techniques, the income of the farmers can increase and that can improve their standard of living.

• To expand social and cultural harmony along with economic growth in South East Asia.
• To promote regional peace.
• To promote tax waivers for trade growth in member states.

Asia Pacific Economic Co-operation (APEC)

• To promote free trade and economic co¬operation in the Asia-Pacific Ocean region.
• To promote regional and technical co-operation among members.

• To provide platform for negotiations in international trade.
• To handle the differences related to trade.
• To monitor the trade policies of member states.
• To provide a technological assistance and training to developing countries.

• Unfavourable Balance of Trade: When the value of imports is more than the value of exports, it is called ‘Unfavourable Balance of Trade.’
  
  

• Favourable Balance of Trade: When the value of exports is more than the value of imports, it is called ‘Favourable Balance of Trade.’
• Balanced Balance of Trade: When the value of exports and imports is almost the same, it is called ‘Balanced Balance of Trade.’

• An invisible flow develops when a product goes from producer1 to consumer.
• The commercial functions involved in this flow are collectively called marketing.

• The process of buying in small quantities from wholesalers and selling in small quantities to the consumers is called retail trade.
• For eg. the shopkeepers selling food grains, vegetable vendors in markets.

• In wholesale trade, the traders buy goods on a large scale from industrialists, farmers, etc. For eg. the orchard owners of mangoes or oranges sell their entire production to wholesale traders.
• The wholesalers in turn sell these commodities to the retail traders.