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
large quantities of goods and services. While Retail Trade involves the exchange of smaller quantities of goods and services.

Bilateral Trade is a form of trading between two countries while Multilateral Trade is a form of trade between two or more countries like a trade between Nigeria, Ghana & South Africa. Remember we mentioned Import ( Act of buying from other countries), Export ( Act of selling to other countries) and Enter-port ( Act of buying from other countries and reselling to other countries).

AIDS-TO-TRADE are the activities that facilitate Trade, they make Trade possible, without them Trade will make no progress and they include-

1. BANKING

2. TRANSPORTATION

3. ADVERTISING

4. WAREHOUSING

5. COMMUNICATION

6. INSURANCE

For explanation check our detailed explanation on Aids-to-Trade and Functions of Commerce here http://www.edu-made-easy.blogspot.com/search?updated-max=2013-10-15T17:29:00%2B01:00&max-results=7&start=7&by-date=false

OCCUPATION we said is any economic or productive activity which people engage in to create goods & services in order to make a living. For Example, Teaching etc.

We said Occupation was classified into the following: INDUSTRY, COMMERCE & SERVICES.

PRODUCTION we said is any activity which involves the creation of goods & services, and the distribution of these goods and services until they get to the final consumer. For detailed Explanation Read it herehttp://edu-made-easy.blogspot.com/search?updated-max=2013-10-18T14:14:00%2B01:00&max-results=7&start=5&by-date=false and other topics we treated are all here for you to go through and refresh your memory on. The key to excelling and understanding Commerce is reading and applying to the situation around you.

I Hope this was very helpful today, for your comments leave the below but for your Questions send them to- dividiamond@gmail.com.

Until we meet again remain ever Blessed, JESUS IS LORD.