What Is The Meaning Of Commerce?


8 Answers

Neha Agrawal Profile
Neha Agrawal answered
Commerce is described as a process in which businesses, nations and individuals partake in trading goods and services in exchange for money or other commodities. The goods in question can vary and the quality and quantity can be affected depending on the supply and demand of the goods as well as the current trends and government policies.

The United States Congress has a lot of influence over commerce in the United States because it is responsible for commerce regulations and has the right to set the standards for weights and measurements as well as coin money. In addition, if there are counterfeits being produced then Congress has the power to prosecute those behind it. The US Congress is also responsible for establishing public roads and post offices used to ship products to customers as well as passing copyright and trademark laws.

Another factor that affects commerce is the tax rate, which the US Congress is also responsible for. They are the governing body that enforces taxes that affect income for individuals and businesses. The various types of tax and the amounts distributed to them will affect an individual or business' ability to purchase certain goods and services. Within American, law the Constitution has two amendments which detail the rules of commerce in the country. The Seventh Amendment which was approved in 1791, states that all businesses and individuals have the right to a trial with a jury when there are legal disputes that involve $20 or more. In addition, the 13th Amendment which was approved in 1865 bans slavery in the United States, which ended up damaging commerce in the southern states who largely depended on free labor of slaves.
raaga Profile
raaga answered
The commerce is actually a type of business. There are two types of businesses by nature:
1. industry
2. commerce
The industry is a type of the business which contains the work of manufacturing and developing some products from a raw material. Like the industry of leader, steel industry. Cotton industry etc.The industry business is actually a process of earning profit by selling their manufactured products in the market.

While, commerce is the type of the business which is not relevant to the development or manufacturing process. In commerce, the products of industries are moved from the site of the development to the retailers, whole sellers and other users. Thus the commerce is actually refers to the group of activities that are aimed to provide an intermediate between the producer and consumer. There are further two classifications of the commerce activities:

1. trade
2. aids to trade
The trade is an action of buying the goods directly from the producer and takes it to the other places for selling. The trade may be classified as home trade or foreign trade.
The aids to trade consists of those activities that help the trading for example banks, insurance, transportation advertising , warehousing etc.
Anonymous Profile
Anonymous answered
Commerce is a division of trade or production which deals with the exchange of goods and services from producer to final consumer OR commerce is the exchange of goods and services from the producer to the consumer. It comprises the trading of something of economic value such as goods, services, information, or money between two or more entities. Commerce functions as the central mechanism which drives capitalism and certain other economic systems. Commerce involves trade and aids to trade which help in the exchange of goods and services.
Anonymous Profile
Anonymous answered
Commerce is a social science which is associated with trade and aids to trade. In other words commerce may be said defined as "the sum total of those processes which are engaged in the removal of hindrances of persons, places and time in the exchange of commodities"
Anonymous Profile
Anonymous answered
In narrow sense commerce means buying and selling of goods,
but in wider look commerce includes all those activities which incur from production of goods by the manufacturer  to consumption of goods by consumer. Production,transport, insurance, warehousing, advertising, etc
Anonymous Profile
Anonymous answered
Commerce is referred to buying and selling of goods and services. Making the raw material into finished goods.

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