Commerce Challenge

The diversity in the distribution of natural resources, differences of human needs and wants, and division of labour along with comparative advantage.

Commerce is the large-scale organized system of activities, functions, procedures, and institutions that contribute to the distribution and transfer of goods and services. It consists of trade and aids to trade along the entire supply chain.

Trade is the exchange of goods and services between buyers and sellers in return for a price at traditional (or online) marketplaces. It is categorized into domestic trade, including retail and wholesale as well as local.

<p>The purpose of commerce is to contribute to the smooth, unhindered distribution and transfer of goods and services on a substantial scale and at the right time, place, quantity, quality, and price through various channels from the original producers to the final consumers within economies.</p> Signup and view all the answers

<p>The main activities and functions of commerce include the organized system of activities, procedures, and institutions that directly or indirectly contribute to the distribution and transfer of goods and services.</p> Signup and view all the answers