Commerce
Commerce is the large-scale organized
Commerce consists of
The broader framework of commerce incorporates additional elements and factors such as
Commerce drives
Commerce traces its origins to ancient localized
Etymology
The English-language word commerce has been derived from the Latin word commercium, from com ("together") and merx ("merchandise").[7]
Relation to business and trade
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Commerce is distinguishable from business and trade.
Commerce is not business per se. Business can be defined as an organization or activity typically operating in the primary (dealing with the extraction and sourcing of raw materials) and secondary sector (dealing with manufacturing intermediate or finished goods) of the economy whose goal is to sell raw materials or manufactured goods for profit. In the tertiary sector, there are businesses which sell services for profit. Commerce deals with the movement and distribution of raw materials as well as finished or intermediate (but valuable) goods from the manufacturers to the end customers on a large scale. It is not concerned with the extraction of raw materials and the manufacturing of goods.[8] However, commercial firms can be considered business entities operating in the tertiary sector of the economy providing commercial services.
Commerce is different from
Commerce not only includes trade as defined above, but also the auxiliary services or aids to trade
Described in this manner, trade is a part of commerce and commerce is an aspect of business.
History
Historian
Commerce was a costly endeavor in the antiquities because of the risky nature of transportation, which restricted it to local markets. Commerce then expanded along with the improvement of transportation systems over time. In the Middle Ages, long-distance and large-scale commerce was still limited within continents.
Currently the reliability of international trans-oceanic shipping and mailing systems and the facility of the Internet has made commerce possible between cities, regions and countries situated anywhere in the world. In the 21st century, Internet-based
Regulation
Legislative bodies and ministries or ministerial departments of commerce regulate, promote and manage domestic and foreign commercial activities within a country. International commerce can be regulated by bilateral treaties between countries. After the second world war and the rise of free trade among nations, multilateral arrangements such as the
Where national
See also
- Bachelor of Business Administration
- Bachelor of Commerce
- Doctor of Commerce
- Capitalism
- Cargo
- Commerce clause
- Commercial law
- Eco commerce
- Economics
- Fair
- Financial planning (business)
- Fishery
- Harvest
- Laissez-faire
- Market (economics)
- Marketplace
- Mass production
- Master of Commerce
- Merchandising
- Roman commerce
- Value (economics)
References
- ^ "Commerce". Oxford English Dictionary (Online ed.). Oxford University Press. (Subscription or participating institution membership required.)
- ^ James Stephenson (1942), Principles and Practice of Commerce, London: Sir Issac Pitman & Sons, Ltd, p. 95
- ^ James Stephenson (1942), Principles and Practice of Commerce, London: Sir Issac Pitman & Sons, Ltd, p. 14
- ^ a b Jonathan Law, ed. (2016), A Dictionary of Business and Management (6th ed.), Oxofrd University Press, p. 26
- ^ IMF Staff (November 2001). "Global Trade Liberalization and the Developing Countries". International Monetary Fund.
- ^ Chisholm, Hugh, ed. (1911). . Encyclopædia Britannica. Vol. 6 (11th ed.). Cambridge University Press. pp. 766–770.
- ^ Mary Trigwell-Jones (2016), Cambridge O Level Commerce Coursebook, Cambridge University Press, p. 19
- ^ Hans Biedermann, James Hulbert (trans.), Dictionary of Symbolism - Cultural Icons and the Meanings behind Them, p. 54.
- ISBN 0-06-621064-X. Introduction.
- ISBN 0-7083-1717-0.
- ISBN 978-0-521-76046-1.
- ^
Fernand Braudel (1982). Civilization and Capitalism, 15th-18th Century: The wheels of commerce. University of California Press. p. 30. ISBN 978-0-520-08115-4.
Taken over by towns, the markets grew apace with them.
External links
- Somers, Robert (1878). . Encyclopædia Britannica. Vol. VI (9th ed.). pp. 196–207.