Hindrances to trade, for CBSE Class 11 and Class 12 students.
- Hindrance of persons
- Hindrance of place
- Hindrance of time
- Hindrance of risk
- Hindrance of exchange
- Hindrance of knowledge
Hindrance of Persons: Hindrance of persons (resources) can be overcome by hiring more manpower.
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Hindrance of Place: Hindrance of place is generally overcome by taking goods physically from one place to another which through transportation.
Hindrance of Time: Hindrance of time is overcome through systematic storage of goods, also known as warehousing.
Hindrance of risk: Insurance is commonly used to overcome the hindrance of risk (damage/loss of goods in transit or in warehouse).
Hindrance of exchange: Trade helps overcome hindrance of exchange by making available goods and services to the consumer through selling and buying.
Hindrance of information/knowledge: This hindrance can be overcome through communication – by using postal and telecom services.
Hindrance of financing: This is overcome by arranging for money (for payments) through banks and other sources.
Hindrance of promotion: This can be overcome by advertising in different media (traditional as well as digital) and adopting different marketing strategies.
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