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Question
Attempt the following.
What do you mean by commerce?
Solution
Commerce is that part of business activity that is concerned with the distribution of goods and services produced by Industry. It includes all those activities which are essential for maintaining a free and uninterrupted flow of goods. Commerce bridges the gap between producers and consumers by exchanges of goods and services for money or money’s worth. Commerce is further divided into Trade and Auxiliaries to Trade.
- Trade denotes buying and selling of goods and services. Trade is an exchange of goods and services with money or money’s worth. Goods are made available to consumers in different markets. Trade facilitates the transfer of ownership and possession of goods and services from the seller to the buyer.
- All those activities that facilitate the smooth flow of goods from manufacturing centers to consumption centers are called aids to trade or auxiliaries to trade. These activities play a supportive role. They help in removing hindrances that arise during the production and distribution of goods and services.
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