Commerce System Overview

Commerce is the large-scale organized system of activities, functions, procedures, and institutions that contribute to the distribution and transfer of goods and services.

The principal factors that give rise to commercial exchanges are the diversity in the distribution of natural resources, differences of human needs and wants, and division of labor along with comparative advantage.

Some examples of aids to trade or auxiliary commercial activities include commercial intermediaries, banking and financial services, transportation, packaging, warehousing, communication, advertising, and insurance.

<p>Trade involves the exchange of goods and services between buyers and sellers in return for a price at traditional or online marketplaces.</p> Signup and view all the answers

<p>Domestic trade includes local, regional, and inter-regional transactions, while foreign trade encompasses import, export, and entrepôt/re-export trades.</p> Signup and view all the answers