Commerce is concerned with buying, selling and distribution of goods and services, which are produced by industry. James Stephenson has defined commerce as 'an organized system for the exchange of commodities and distribution of finished productions." It signifies a process of exchange, which is the foundation of modern economic life. It helps in transforming the goods from the place of production to those places where it is scarce. Hence it is concerned with the supply of goods and services to the consumers at the right place, at right time and condition.
Commerce deals with the processes which are engaged in the removal of hindrances of persons (trade), hindrances of exchange (banking and finance), hindrances of place (transport, insurances), hindrances of time (warehousing), and hindrances of information (advertising and salesmanship). In modern era commerce includes all the functions which are required to buy and sell the product. It provides a link between producer and consumer.
According to Evelyn Thomas, "Commercial occupations deal with the buying and selling of goods, the exchange of commodities and distribution of the finished goods".
Commerce is primarily concerned with two main types of activities:
1. Trade
2. Aids to Trade.
Commerce deals with the processes which are engaged in the removal of hindrances of persons (trade), hindrances of exchange (banking and finance), hindrances of place (transport, insurances), hindrances of time (warehousing), and hindrances of information (advertising and salesmanship). In modern era commerce includes all the functions which are required to buy and sell the product. It provides a link between producer and consumer.
According to Evelyn Thomas, "Commercial occupations deal with the buying and selling of goods, the exchange of commodities and distribution of the finished goods".
Commerce is primarily concerned with two main types of activities:
1. Trade
2. Aids to Trade.
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