Commerce is a division of trade or 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, services, information or money between two or more entities. Trade is the willing exchange of goods, services, or both Trade is also called Commerce. The economic value of a good or service has puzzled economists since the beginning of the discipline A service is the non-material equivalent of a good. A service provision is an economic activity that does not result in Ownership, and this is what differentiates Information as a concept has a diversity of meanings from everyday usage to technical settings Money is anything that is generally accepted as Payment for Goods and services and repayment of Debts. Commerce functions as the central mechanism which drives capitalism and certain other economic systems (but compare command economy, for example). Capitalism is the Economic system in which the Means of production are owned by private Persons and operated for Profit and where An economic system is a System that involves the production, distribution and consumption of goods and services between A planned economy or directed economy is an Economic system in which the Government or Workers' councils manages the Economy. Commercialization or commercialisation consists of the process of transforming something into a product, service or activity which one may then use in commerce. Commercialization is the process of introducing a new product into the market

Word usage

Commerce primarily expresses the fairly abstract notions 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"). Trade is the willing exchange of goods, services, or both Trade is also called Commerce. Academically selling is thought of as a part of Marketing, however the two disciplines are completely different Sugar is a class of edible Crystalline substances mainly Sucrose, Lactose, and Fructose.

Business can refer to 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 with retailing.

History

Cherry peddler in Bucharest, around 1869. Bucharest ( Romanian: Bucureşti) is the Capital city, industrial and commercial centre of Romania.

Some commentators trace the origins of commerce to the very start of communication in prehistoric times. Communication is the process of conveying information from a sender to a receiver with the use of a medium in which the communicated information is understood the same way 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. Self-sufficiency refers to the state of not requiring any outside aid support or interaction for survival it is therefore a type of personal or collective autonomy. Trade is the willing exchange of goods, services, or both Trade is also called Commerce. Barter is a type of Trade in which goods or services are directly exchanged Historian Peter Watson dates the history of long-distance commerce from circa 150,000 years ago. Peter Watson (born 1943 is an Intellectual historian and author from London, England. The history of international trade chronicles notable events that have affected the Trade between various countries Circa (often abbreviated c, ca, ca or cca and sometimes Italicized to show it is Latin) means "about" ^[1]

In historic times, the introduction of currency as a standardized money facilitated a wider exchange of goods and services. A currency is a unit of exchange, facilitating the transfer of Goods and/or services It is one form of Money, where money is Money is anything that is generally accepted as Payment for Goods and services and repayment of Debts. Numismatists have collections of these monies, which include coins from some Ancient World large-scale societies, although initial usage involved unmarked lumps of precious metal. Numismatics (numisma nomisma "coin" from the νομίζειν nomízein, "to use according to law" is the study or collection of Currency main - title Coin keywords numismatics coin review Precious Metal is the eighteenth episode in the of the popular American Crime drama, which is set in Las Vegas, Nevada. ^[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. The coincidence of wants problem (often " double coincidence of wants" is an important category of Transaction costs that impose severe limitations on economies Barter is a type of Trade in which goods or services are directly exchanged 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.

Today commerce includes a complex system of companies that try to maximize their profits by offering products and services to the market (which consists both of individuals and other companies) at the lowest production-cost. Year 2007 ( MMVII) was a Common year starting on Monday of the Gregorian calendar in the 21st century. A corporation is a separate legal entity usually used to conduct business In Marketing, a product is anything that can be offered to a Market that might satisfy a want or need A service is the non-material equivalent of a good. A service provision is an economic activity that does not result in Ownership, and this is what differentiates Sao Paulo Stock Exchangejpg|thumb| Virtual market arena where buyer and seller are not present and trade via intemediates and electronical information There exists a system of world-wide or foreign commerce, which some argue has gone too far (see main: Free trade). Free trade is a system in which the trade of goods and services between or within countries flows unhindered by government-imposed restrictions

See also

• Advertisement
• Agriculture
• Business
• Capitalism
• Commercial law
• Distribution (marketing)
  • Wholesaler
• Eco commerce
• Finance
• Harvesting
  • Retailer
• Industry
• Economy
• Electronic commerce
• Fair
• Fishery
• Laissez-faire
• Manufacturer
• Manufacturing
• Marketing
• Marketplace
• Mass production
• Merchandising
• Portal:Business and Economics

References