Commerce

Ware-housing Management Meaning of the Terms Ware-housing and Ware-house Define the terms ware-housing and ware-house Warehousing is the institutional arrangement for the storage of goods i.e. receiving, storing and dispatching the goods to the uses. It is a very important aids…

Wholesale Trade Meaning of Wholesale Trade Define wholesale trade Wholesale trade is a form of trade in which goods are purchased and stored in large quantities and sold, in batches of a designated quantity, to resellers, professional users or groups, but not to…

Retail Trade Meaning of Retail Trade Define Retail Trade Retail trade is the sale of goods in small quantities to consumers. OR is a business activity involving buying goods and retailing them to ultimate consumers without changing the physical and…

Theory of Supply Explain the meaning of supply What Is Supply? In economics, we have two forces: the producer, who makes things, and the consumer, who buys them. Supply is the producer’s willingness and ability to supply a given good at various…

Theory of Demand Meaning of Demand Define demand Demand is willingness (desire) and the ability to buy a certain quantity of a commodity at the going price at a specific period of time. Condition for effective Demand Demand Schedule and…

Production Meaning of the Term “Production” Define the term “Production” Production-is any activities, which results in the creation of goods and services in order to satisfy human wants. In economics sense, production is for exchanging, In the general meaning production…

The Scope of Commerce The Nature and the Subject Matter of Commerce Explain the nature and the subject matter of commerce THE MEANING OF COMMERCE The scope of commerce means areas of study covered in commerce. It comprises the study…