REVISION OF ALL TOPICS IN COMMERCE 101.

Hey Guys, Today we begin with a recap of all we have ever discussed in COMMERCE 101. Just to remind ourselves and to be sure we understood them well.

So we begin with INTRODUCTION TO COMMERCE. Here we defined Commerce as all that concerns Production, Distribution, Exchange of Goods & Services, and the activities that makes trade possible. In other words, we defined commerce as an activity that deals with Trade and the Aids-to-Trade.

SCOPES OF COMMERCE, we said are divided into 2: Trade & Aids-to-Trade.

TRADE is the buying and selling of goods and services and can be divided into 2: Home Trade & Foreign Trade.

Home Trade is the buying and selling of goods and services that takes place within a country, and is divided into: Wholesale & Retail Trade.

Foreign Trade is the buying and selling of goods and services between two or more countries. Under it we have- Bilateral Trade and Multilateral Trade.

Remember we defined Wholesale Trade as the trading that involves the exchange of