what is commerce ? How it is beneficial for our country India ? (two-three pages)
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......
Commerce normally refers to the macroeconomic purchase and sale of goods and services by large organizations at scale. The sale or purchase of a single item by a consumer is defined as a transaction, while commerce refers to all transactions related to the purchase and sale of that item in an economy. Most commerce is conducted internationally and represents the buying and selling of goods between nations.
Large organizations with hundreds of countries as members also regulate commerce across borders. For example, the World Trade Organization (WTO) and its predecessor the General Agreement on Tariffs and Trade (GATT) established rules for tariffs relating to import and export of goods between countries. The rules are meant to facilitate commerce and establish a level playing field for member countries.