discuss the importance of commerce
Answers
Answer:
commerce makes us ready for our social life
Explanation:
Commerce is trade and business activities such as the exchange of goods and services from producer to final consumer.
The importance of trade and commerce are mentioned in following points :-
1. Commerce tries to satisfy increasing people's wants
Genrally people requirement or wants are never ending. They can be classified as 'Basic wants' and 'Secondary wants'. Commerce has made distribution and movement of goods possible from one part of the world to the other. Today we can buy anything produced anywhere in the world. This has in turn enabled man to satisfy his innumerable requirement and thereby promoting social welfare.
2. Commerce helps to increase our standard of living
Standard of living refers to quality enjoyment life . When man consumes more products his standard of living improves. To consume a variety of goods he must be able to secure them first. Commerce helps us to get what we want at right time, right place and at right price and thus helps in improving our standard of living.
3. Commerce links producers and consumers.
Production is meant for ultimate consumption. Commerce makes possible to link producers and consumers through retailers and wholesalers and also through the aids to trade. Consumers get information about different goods through advertisements and salesmanship. The manufacturers are regularly informed about the likes and dislikes of the consumers through marketing research. Thus commerce creates contact between the centers of production and consumption and links them.
4. Commerce create employment/ work opportunities
The growth of commerce, industry and trade bring about the growth of agencies of trade such as banking, transport, warehousing, advertising, etc. These agencies need people to look after this function. Increase in production results in increasing demand, which further results in boosting employment opportunities. Thus development of commerce generates more and more employment event for millions of people in a country.