1.2.1 Sources of buying in commerce
Buying
It is important for the buyers to find the best quality resources for
the lowest possible cost.
Resources can be both through:
1.) Home buying (Domestic trade)
This refers to buying from suppliers in the home country, this
is also known as domestic trade.
Advantages of home buying
➢ Transport costs are likely to be lower as it is done within
national boundaries
➢ Goods can be delivered within a short period of time
➢ Communication is easier as they communicate in the same
language
➢ Costs can be low as no taxes are involved
➢ Less documentation is involved
Disadvantages of home buying
➢ Limited choices
➢ Quality might be lower compared to foreign/Imported goods
➢ There maybe higher prices due to limited competition