INTRODUCTION TO COMMERCE, TRADE & HOME TRADE.
Hey Guys, Today we will be talking about Commerce.Commerce is all about Production, Distribution & Exchange of Goods & Services. In Order words, it concerns all activities that make Trade & Aids to Trade possible.
SCOPES OF COMMERCE.
Scopes are areas associated with commerce as a whole,they include:1. Trade
2. Aids to Trade.
TRADE:
Trade is the buying and selling of goods and services. Trading or Exchanging Money for Goods or Services. for example, Exchanging N50 for Tomatoes in the Market. It is divided into the following:
1. HOME TRADE.
This is the buying and selling of Goods and Services in a Country, for example, when you go to the Supermarket to buy Bread, you have just performed Home Trade.
DIVISIONS OF HOME TRADE:
Home Trade is divided into two,namely
1.Wholesale- which involves buying Goods and Services in Bulk or Large Quantity and selling in Small Quantity to Retailers. for example the SHOPRITES, NEXT & GLOBUS that we patronize.
2. Retail- involves buying Goods and Services in Small Quantity from the Wholesaler and selling in Smaller Quantity to the consumers. for example, the Recharge Card Vendors that sell near our houses are retailers.
This concludes our session today, hope it was fun. Until we meet again, remain ever blessed.
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