Commerce reduces the hindrances of
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Hence, commerce is said to consist of activities of removing the hindrances of persons, place, time, risk, finance and information in the process of exchange of goods and services.
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Following are the hindrances in commerce: Lack of Personal Contact: This hindrance is removed by traders and middlemen. Distance or Place: This hindrance is removed by transportation. Finance: This hindrance is removed by banking. Time or Storage: This hindrance is removed by warehousing.
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