what is commerce ? explain why india is a dominant country in terms of commerce and trade?
Answers
Answer:
Commerce is the conduct of trade among economic agents. Generally, commerce refers to the exchange of goods, services, or something of value, between businesses or entities. From a broad perspective, nations are concerned with managing commerce in a way that enhances the well-being of citizens, by providing jobs and producing beneficial goods and services.
Explanation:-
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Answer:
Commerce is the conduct of trade among economic agents. Generally, commerce refers to the exchange of goods, services, or something of value, between businesses or entities. From a broad perspective, nations are concerned with managing commerce in a way that enhances the well-being of citizens, by providing jobs and producing beneficial goods and services.
Explanation:
- KEY TAKEAWAYS
- Commerce has existed from the early days of human civilization when humans bartered goods to the more complex development of trade routes and corporations.
- Today, commerce refers to the macroeconomic purchases and sales of goods and services by organizations.
- Commerce is a subset of business that focuses on the distribution aspect of business as opposed to the production side.
- The buying or selling of a single item is known as a transaction, whereas all the transactions of that item in an economy are known as commerce.
- Commerce leads to the prospering of nations and an increased standard of living, but if left unchecked or unregulated, it can lead to negative externalities.
- E-commerce is a variant of commerce in which goods are sold electronically via the Internet.