discuss any four hindrance that are removed by commerce
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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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Answer:
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.
- Risk: This hindrance is removed by insurance companies.
- Information: This hindrance is removed by advertisement or communication.
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