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What is commerce? Video Lecture
FAQs on What is commerce? Video Lecture
| 1. What is commerce? |  |
Ans. Commerce refers to the activities involved in buying and selling goods and services, typically involving the exchange of money. It encompasses various aspects such as trade, finance, marketing, and logistics.
| 2. What are the different types of commerce? | |
Ans. There are three main types of commerce:
- E-commerce: This refers to conducting business activities online, through websites, apps, or electronic platforms.
- B2B commerce: It involves business transactions between two or more companies.
- B2C commerce: This type of commerce involves businesses selling products or services directly to consumers.
| 3. How does commerce contribute to the economy? | |
Ans. Commerce plays a vital role in the economy as it promotes economic growth, job creation, and the circulation of wealth. It facilitates the flow of goods and services, establishes market prices, generates revenue through taxation, and fosters competition and innovation.
| 4. What are the key components of commerce? | |
Ans. The key components of commerce include:
- Trade: The exchange of goods and services between buyers and sellers.
- Finance: The management of money, investments, and financial transactions.
- Marketing: The process of promoting and selling products or services.
- Logistics: The coordination of the transportation, storage, and distribution of goods.
| 5. How has e-commerce influenced traditional commerce? | |
Ans. E-commerce has significantly impacted traditional commerce by revolutionizing the way businesses operate. It has provided convenience, global reach, and accessibility to both businesses and consumers. Traditional commerce has had to adapt by incorporating online platforms, expanding their reach through digital marketing, and enhancing their logistics and delivery systems to compete in the digital age.
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Dec 23, 2024 Last updated |
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