INTRODUCTION TO COMMERCE
In this lesson, we learn what commerce is all about. We also learn the branches of commerce as well as the nature and functions of each branch. The lesson also examines the relationship between commerce, trade, and industry.
In order to better explain what commerce is, let us take the example of Mega Bakers, a baking shop that bakes and delivers bread and other products to their customers. Commerce for this company would be the process of exchanging its baked products for money. Commerce would also encompass the logistics of getting the raw materials to the bakery and of distributing the finished product to their customers.
So what exactly is commerce? Well, it is described as the effective process of exchanging products or services using some monetary aspect as well as the logistical process of transforming raw materials into usable products or services. Commerce in the proper sense is said to occur if the scale of this exchange is large enough to include logistics and transportation of these products or services across various boundaries. In order for commerce to occur effectively, trade and industry have to take place together in a harmonious way. What exactly are trade and commerce, you may ask? Well:
|Introduction to Commerce Details||00:00:00|
|History of Commerce Details||00:00:00|
|Production, Division of Labour Details||2 years, 6 months|
|Specialization and Exchange Details||00:00:00|
|TRADE AND BUSINESS ORGANISATION|
|Trade and Aids to Trade Details||00:00:00|
|Home Trade (Internal or Domestic Trade) Details||00:00:00|
|Foreign Trade(External or International Trade) Details||00:00:00|
|Commodity Exchange Details||00:00:00|
|Sole Proprietorship Details||00:00:00|
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