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
