Justify the following:
1. Commerce is a wider term than trade.
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Answers
Answered by
14
Answer:
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Commerce is a wider term than trade.
Explanation:
Trade ia a narrow term that merely includes the selling and buying whereas
Commerce is a wider term
that includes exchange as well as the several revenues generating activities that complete the exchange.
Commerce makes the necessary arrangement for linking between producers and ultimate consumers.
Trade includes sale, transfer or exchange of goods.
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Answered by
5
Commerce has a much wider scope than trading since trading is only involves buying and selling of the goods and services. Commerce on the other hand enables the exchange of goods along with other activities that are required for the trading in goods and services
Explanation:
- Commerce has a much wider scope that trading since it involves other activities along with the exchange of goods and services. There are activities like transportation, storage of goods, warehousing, marketing, advertising and many other services that come under commerce
- The activities of commerce fall under the domain of economic activities and trading comes under the domain of social activities. There are regular actions that take place in commerce but in trading there are few activities
- Trading is a relationship between the buyer and the seller but in commerce the link is between the producer and the consumers. The demand and supply of goods are part of trading whereas commerce is more related with the demand of goods.
To know more about commerce
What is commerce what is a role of commerce in business?
https://brainly.in/question/6296682
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