Information AboutCommerce |
| CATEGORIES ABOUT COMMERCE | |
| business | |
| commercebusiness | |
| commerce | |
| business | |
| business economics | |
|
Commerce is a branch of production which deals with the exchange of goods and services from producer to final consumer. It comprises the Trading of something of Economic Value such as Goods , Service s, Information or Money between two or more entities. Commerce functions as the central mechanism which drives Capitalism and certain other Economic System s (but compare Command Economy , for example). ''' Commercialization ''' or '''commercialisation''' consists of the process of transforming something into a product, service or activity which one may then use in commerce. WORD-USAGE ''Commerce'' primarily expresses the fairly abstract notion of Buying and Selling , whereas ''trade'' may refer to the exchange of a specific class of goods ("the sugar trade", for example), or to a specific act of exchange (as in "a trade on the stock-exchange"). ''Business'' on the other hand, can reference an organization set up for the purpose of engaging in manufacturing or exchange, as well as serving as a loose synonym of the abstract collective "commerce and industry". Compare Retailing . HISTORY , around 1869.]] Some commentators trace the origins of commerce to the very start of Communication in prehistoric times. Apart from traditional Self-sufficiency , Trading became a principal facility of prehistoric people, who Bartered what they had for goods and services from each other. Peter Watson , the historian, dates the History Of Long-distance Commerce from Circa 150,000 years ago. 1 Introduction. In historic times, the introduction of Currency as a standardized Money facilitated a wider exchange of goods and services. Numismatist s have collections of these monies, which include Coin s from some Ancient World large-scale societies, although initial usage involved unmarked lumps of Precious Metal . Gold served especially commonly as a form of early money, as described in "Origins of Money and of Banking" 2 The circulation of a standardized currency provides the major advantage to commerce of overcoming the " Double Coincidence Of Wants " necessary for Barter trades to occur. For example, if a man who makes pots for a living needs a new house, he may wish to hire someone to build it for him. But he cannot make an equivalent number of pots to equal this service done for him, because even if the builder could build the house, the builder might not want the pots. Currency solved this problem by allowing a society as a whole to assign values and thus to collect goods and services effectively and to store them for later use, or to split them among several providers. ). See also: Foreign Commerce SEE ALSO
REFERENCES |
|
|