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Commerce Knowledge Hub
“Communication is at the heart of ecommerce and community”
Concept of "COMMERCE "
Commerce has existed from the moment humans started exchanging goods and services
with one another. From the early days of bartering to the creation of currencies and the
establishment of trade routes, humans have sought ways to facilitate the exchange of goods
and services by building a distribution process to bring together sellers and buyers.
selling of goods between nations.
Commerce is not synonymous with business but is a subset of it. Commerce does not relate
to the sourcing, manufacturing or production but only to the distribution of goods and
services. That alone encompasses a number of roles, such as logistics, legal, regulatory and
economic.
A long and difficult way has to be covered in taking finsihed products from the place of
production to the place of consumption. There are so many hindrances in the way.
Commerce refers to all those activities which are engaged in the removal of hindrances of
person, place, time, risk, finance in the sale and purchase of goods or commodities.
It includes both trade and auxiliary to trade.
Trade means buying, selling and distribution of goods with the purpose of earning profit. It is
further classified as internal and external trade.
When distribution of goods takes place within the geographical boundaries of a country it is
considered as internal trade.
Whereas, external trade includes the exchange of goods and services between person or organization operating in two or more countries.
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TRANSPORTATION Transportation helps in removing hinderances of place by transferring
goods from the place of production to the place of consumption.
ADVERTISING
One of the major problem faced by the manufacturer is how to inform
consumers about the various products manufactured or sold by them. Advertisement
informs about the existing and new products, their prices, qualities, features etc.
INSURANCE
Various types of risk are involved in all types of business activities such
as death and disability of owner, loss of properties by fire and theft, perils of sea
during shipment of goods etc. These risks cannot be eliminated completely but they
can be reduced to a great extent through insurance cover. Insurance companies
takeover the specified risk of business by selling insurance policy in consideration of insurance premium.
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BANKING
Finance is a most important part of business activities. Bank is an institution
which deals in accepting deposits and granting loans and help in removing hindrances of finance.
WAREHOUSING
Usually goods are not consume when they are produced. They may
be a time lag between production and consumption of goods. Wharehouse helps in
storing of goods till they are not demanded by consumers. It also maintains the
quality and utility of goods to a great extent.
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Regulating commerce
Most nations have established government agencies responsible for promoting and
managing commerce, such as the Department of Commerce in the United States.
Large multinational organisations regulate commerce across borders. For example, the
World Trade Organization (WTO) and its predecessor, the General Agreement on Tariffs and
Trade (GATT), established rules for tariffs relating to the import and export of goods between
countries. The rules are meant to facilitate commerce and establish a level playing field for
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Emerging of E-Commerce
E-commerce is any sale of goods and services that is finalized in a transaction on the internet.
E-commerce is an alternative to transactions that take place in brick-and-mortar stores.
Today, many companies offer their customers the choice of online or in-store purchasing.
There has been seen various types of e-commerce as well including business to business
(B2B), Business to Consumer (B2C).
Commerce emerging as a digital wallet for all our Web3 needs
Web3, a catch all term for the vision of a new, better internet, focusing on making online
communities owned by everyone, with transparent information sharing.
From crypto to NFTs and beyond, accessing a wealth of DeFi (decentralised finance)
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Journey Towards
Knowledge Hub: Commerce PWC
E-Contents
Contract of agency
Process Costing
Overheads
Fundamental Analysis
RISK RETURN TRADE OFF
equity & bond valuation
DEBENTURE
MATRIX
E- FILING RETURN
ACCOUNTING OF INSURANCE COMPANY
BLOGS
SAGARIKA
NEHA KUMARI
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