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TeachMeFinance.com - explain Inspection historic definition... Inspection -- When used as a trade term it means the inspection and grading of grain or other commodities by individuals authorized to do so by law or such inspection and grading by exchanges or other commercial organizations. About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2007 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional financial or legal advice. TeachMeFinance.com and its owner recommend consultation with a professional financial advisor prior to any investment or financial decision. Please read our disclaimer.