Trade and Commerce IKS PDF

# IKS (Indian Knowledge System) Trade and Commerce ## BAF Department - Dr. Kajal Vadhrya - Dr. Hitasha Rohra - Dr. Reema Panjwani ## Trade and Commerce **Trade:** The term "trade" generally refers to the exchange of goods and services between parties. **Commerce:** "Commerce" is a much broader c...

# IKS (Indian Knowledge System) Trade and Commerce ## BAF Department - Dr. Kajal Vadhrya - Dr. Hitasha Rohra - Dr. Reema Panjwani ## Trade and Commerce **Trade:** The term "trade" generally refers to the exchange of goods and services between parties. **Commerce:** "Commerce" is a much broader concept that facilitates trade. Commerce includes transportation, finance, marketing, and legal framework. ### Trade - Domestic trade - International trade ### Commerce - Distribution - Marketing - Finance - Legal Framework ## Principles of Trade and Commerce - Supply and demand - Comparative advantage - Free trade v/s protectionism ## Historical context - **Ancient trade**: Silk road and maritime trade - **Medieval trade**: Trade guilds and Hanseatic league - **Modern trade**: Industrial revolution and Globalization ## Role of Trade and Commerce in Economy - Economic growth - Job Creation - Innovation and competition - Global integration - Cultural exchange - Economic interdependence ## Modern T&C Practices - Ecommerce - Supply chain management - Digital marketing ## Challenges - Trade barriers - Logistic and transportation - Regulatory compliance ## Influence on Modern Trade and Commerce - Fair trade. - Cooperative movement - Sustainable development - Economic Equity