MEANING AND SCOPE OF COMMERCE
Definition of Commerce Commerce is trade and the aids to trade . OR Commerce is exchange and distribution of goods and services . Commerce is all the activities involved in buying, selling and distribution of goods and services. Commerce has to do with trade and the activities that help trade to take place. Note : 1. Receiving goods & services and giving money is referred to as exchange. So exchange is buying and selling. 2. Distribution is moving goods from producer to consumer. 3. The most important function of Commerce is facilitating exchange of goods and services. That is, helping trade to take place. Scope of Commerce By scope of Commerce, we mean how wide the subject of Commerce covers. First, we use a diagram to illustrate the scope of Commerce. Definition of Trade Trade is buying and selling of goods and services . Trade is divided into home trade and foreign trade. (a) Home Trade This is buying and selling of goods and services within a country