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Commerce

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Commercials Division
Commerce Department

What is COMMERCE?
  1. Commerce the activity which involves distribution and exchange of goods and services, from producers to consumers.
  2. The buying, selling and distribution of goods and services.
BRANCHES OF THIS SUBJECT:
Before we go any further we need to know where commerce is coming from. The whole process starts with PRODUCTION.

So What is Production?
it is the provision of goods and services to satisfy human needs and wants. 


Glossary and Further Explanations
  • Consume - to use, to take in or eating.
  • Production - it is the provision of goods and services to satisfy human needs and wants.
    • Human needs - these are things we cannot live without e.g. food (basic commodities like rice, potatoes, vegetables and meat), water, shelter, air to breath, clothing and healthcare.
    • Human wants - these are things that we can do without (referred to a luxury) e.g. jewellery, television, phones, cars
  • Retailers - people who buy from manufacturers or wholesalers and sell to consumers.

Extra Information

Click the image above and learn more about the advice from Shumbafoot concerning money



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