Final answer:
The key difference between Retail, Institutional, and Large Block Trades is the participants and the volume of the securities traded. Factors that influence a country's level of trade include economic conditions, trade policies, and geopolitical relationships. Balance of trade is the difference in value between exports and imports, while level of trade indicates overall trade activity.
Step-by-step explanation:
The difference between a Retail Trade, an Institutional Trade, and a Large Block Trade lies in the nature of the transaction and the participants involved. A Retail Trade represents transactions typically executed by individual investors buying or selling securities in relatively small quantities. An Institutional Trade is carried out by institutional investors and involves the exchange of a significantly larger number of securities, often with the help of intermediaries to navigate market impact and price slippage. Finally, a Large Block Trade is a high-volume transaction, usually involving at least 10,000 shares of stock or $200,000 worth of bonds, which is normally arranged privately between parties to mitigate the effect on the market price.
Regarding influencing factors for a country's level of trade, three key elements are: 1) Economic conditions, which include GDP growth and currency stability, 2) Trade policies, such as tariffs and quotas, and 3) Geopolitical relationships, influencing trade agreements and partnerships.
The balance of trade is a part of a country's balance of payments and represents the difference between the value of a country's exports and imports over a certain period. The level of trade, on the other hand, refers to the total volume or value of trade activities, both import and export, that a country engages in with international partners.