Commerce is a term
that embraces all those functions involved in the marketing, buying, selling
and transport of goods. Commerce and trade are terms used to describe the
exchange of merchandise for money or the commodities. Trade can be classified in
various ways home trade and foreign trade or wholesale trade and retail trade.
Trade is that part of commerce concerned the buying and selling of goods. So
the first classification regard the place where it is
carried on. It is divided into home trade and foreign trade.
- home trade is the buying and selling of goods
carried on within the borders of a particular country. It may be either
wholesale or retail.
- wholesale trade is buying and selling of goods in
large quantities.
- retail trade is the sale of goods in small
quantities direct to the consumer
- foreign trade is the exchange of goods
between different nation. It is divided into import and export
- import trade is concerned with
the purchase of goods from a firm abroad
- export trade is concerned with
the sale of goods to a merchant in another country
