Register, ask, and answer questions to earn more points and privileges. Some features are disabled for users with few points.
Impacts of local trade in Kenya include;It promoted good relations between communities involvedExchange of cultural practices among communitiesCommunities were able to acquire what they did not haveIt provided foundation for regional tradeIt led to intermarriage between the communities involvedDevelopment of trading centers which later grew into townsEarly industries emerged to produce the items of tradeChiefdom emerged as a result of tributes paid by tradersDevelopment of regional market placesMany African communities were united through tradeIt enforced the development of languages
Disadvantages of free trade to a country are;Loss of government revenue in form of import and export duty on the goods being imported or exported.Closing down of local industry as a result of cheap imported goods from member communities.May cause unemployment where more qualified people move into the country from their countries.Limited consumer choice that lead to lower standard of living.Compromising a country's political ideology if pursuing different political ideology in order to fit in the bloc.Loss of opportunity to obtain cheaper commodities from non member countries that forces consumer to buy goods produced in the bloc.Importation of inferior goods
Characteristics of regional trade are;Has a larger geographical regionInvolves exchange of a large variety of goodsTraders acted as middlemen between the buyers of goods and producerIt has established markets days
Effects of long-distance trade include;Increased contacts among the people of the interior through trading activitiesIntroduction of New items e.g. cloth & glassesOpening up of the interior which exposed it to the foreigners leading to colonizationSpread of Islam into the interiorIntroduction of New crops e.g. maize, riceDefine of indigenous industries as foreign goods were introduced and slave trade in the International tradeEmergence of powerful chiefs and kingdoms through acquisition of firearms and wealth.
Documents prepared by the buyer in home trade include;Letter of inquiryLocal purchase orderGoods received noteGoods returned noteIOU