MEANING OF COMMERCE
SCOPE OF COMMERCE
FUNCTIONS OF COMMERCE
CHARACTERISTICS OF COMMERCE
What is Commerce?
Commerce is the activity of buying and selling of goods and services, especially on a large scale or quantity
Commerce is a branch of production that deals with the distribution; exchange of goods and services and all activities that assist or facilitates trade.
Commerce is also defined as the study of all the activities concerned with buying and selling and distribution of goods and series.
Scope of Commerce
Commerce is the study of business activities
The scope of commerce may be seen as embracing the totality of all activities which ensure the distribution and exchange of goods and services for the satisfaction of the people. Commerce embraces trade and aids to trade.
Functions of Commerce
The following are the various functions of commerce
- Commerce offers employment opportunities to a large number or people
- Commerce links buyer and seller together to do business without physical contact.
- Commerce helps to create wealth for nations as duties are charge on either imported or exported goods
- Commerce facilities the exchange of goods and services through transportation
- Commerce leads to the improvement of standard of living and quality of life of the people.
- Commerce facilitates mass production of goods and thus, people all over the world can enjoy goods and services within and outside their countries.
Characteristics of Commerce
- Commerce is an economic activity because it is undertake to earn profit.
- Commerce involves the exchange of goods and services for profit.
- The primary objective of Commerce is to earn profit
- Commerce involves the creation of time and place utility for the products.
- Commerce consists of regular transaction.