Skip to main content

Commerce

Commerce

Commerce is the exchange of goods, services or commodities on a large scale. Commerce is the fundamental action that takes place in every transaction involving money and/or trade. It is the basic component of the business and financial world.  Commerce refers to the exchange of goods, services or something of value, between businesses or entities. Exchange of goods or service for money or in kind, usually on a scale large enough to require transportation from place to place or across city, state, or national boundaries.
In most countries, commerce is regulated; the extent of the regulation is a reflection of monetary policy, fiscal policy and political conditions.

Commerce includes two types of activities, viz., (i) trade and (ii) auxiliaries to trade. Buying and selling of goods is termed as trade. But there are a lot of activities that are required to facilitate the purchase and sale of goods. These are called services or auxiliaries to trade and include transport, banking, insurance, communication, advertisement, packaging and warehousing. Commerce, therefore, includes both, buying and selling of goods i.e., trade, as well as, auxiliaries, such as transport, banking, etc.

Commerce provides the necessary link between producers and consumers.  It embraces all those activities, which are necessary for maintaining a free flow of goods and services. Thus, all activities involving the removal of hindrances in the process of exchange are included in commerce. The hindrances may be in respect of persons, place, time, risk, finance, etc. The hindrance of persons is removed by trade, thereby, making goods available to consumers from the possession or ownership producers. Transport removes the hindrances of place by moving goods from the place of production to the markets for sale. Storage and warehousing activities remove the hindrance of time by facilitating holding of stocks of goods to be sold as and when required. Goods held in stock, as well as, goods in course of transport are subject to a risk of loss or damage due to theft, fire, accidents, etc. Protection against these risks is provided by insurance of goods. Capital required to undertake the above activities is provided by banking and financing institutions. Advertising makes it possible for producers and traders to inform consumers about the goods and services available in the market. Hence, commerce is said to consist of activities of removing the hindrances of persons, place, time, risk, finance and information in the process of exchange of goods and services.


Comments

Post a Comment

Popular posts from this blog

Edgar Dale's Cone of Experience

Edgar Dale's Cone of Experience Edgar Dale (1900-1985) served on The Ohio State University faculty from 1929 until 1970. He was an internationally renowned pioneer in the utilization of audio-visual materials in instruction. He also made major research contributions in the teaching of vocabulary and testing readability of texts. Jeanne S. Chall, an OSU Ph.D. graduate who went on to become a leading innovator in reading research. Perhaps Professor Dale's most famous concept was called the "cone of experience," a graphic depiction of the relationship between how information is presented in instruction and the outcomes for learners. Dale’s Cone first appeared in his 1946 textbook titled “Audio-Visual Methods in Teaching. This text is the grail for any educator wanting to successfully integrate AV materials into instruction. Dale intentions were not for the Cone to represent all ways of learning but instead to create a visual with which to categorize the progression
Post a Comment
Read more

Blended learning

Blended learning Blended learning refers to the planned implementation of a learning model that integrates student-centred, traditional in-class learning with other flexible learning methodologies using mobile and web-based online ,especially collaborative approaches in order to realise strategic advantages for the education system. “ Blended learning should be viewed as a pedagogical approach that combines the effectiveness and socialisation opportunities of the classroom with the technologically enhanced active learning possibilities of the online environment, rather than a ratio of delivery modalities.” Dziuban, Hartman and Moskal (2004) Blended learning strategies vary according to the discipline, the year level, student characteristics and learning outcomes, and have a student-centred approach to the learning design.   Blended learning can increase access and flexibility for learners, increase level of active learning, and achieve better student experiences and outcomes.   F
Post a Comment
Read more

Commerce Education

Commerce Education As a branch of knowledge, Commerce imparts experience of business world at large in all its manifestations. It prepares its learners for personally fruitful and socially desirable careers in the field of business.  The role of education is changing very rapidly due to changes in society. Education is in great demand and technology is changing and so is curriculum. The subject of commerce is skill oriented and life centric in nature.  Commerce curriculum is more relevant because business provides maximum employment opportunities; hence maximum exposure and emphasis must be given for skill acquisition in students The role of education is changing very rapidly due to changes in society. Education is in great demand and technology is changing and so is curriculum. The subject of commerce is skill oriented and life centric in nature. The use of ICT and internet in particular has opened new vistas for making education process effective. Commerce curriculum is m
Post a Comment
Read more