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SS1 First Term Commerce Lesson Note – Introduction to Commerce

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WEEK 1

SUBJECT: COMMERCE

CLASS: SS1

TOPIC: INTRODUCTION TO COMMERCE

CONTENT:

Meaning of Commerce
Scope of Commerce
Functions of Commerce
Characteristics of commerce.
e-Commerce (i) Meaning (ii) Functions

SUB-TOPIC 1: MEANING OF COMMERCE

MEANING OF COMMERCE

Commerce simply refers to all the activities involved in the production, distribution and exchange of goods and services. Put in another way, commerce is a branch of production which is concerned with the distribution, exchange of goods and services and all the activities which facilitate or promote trade, e.g. banking, insurance, Transportation, communication, tourism etc. Commerce can also be referred to as the process of buying, selling, and distributing goods and services. Simply put, commerce is trade and aids to trade

Commerce is situated between producers (who make goods) and consumers (who buy goods). So, we can say that Commerce consists of the businesses that exist between the producers and consumers. The position of Commerce can be shown in a simple diagram.

Producers ——–> Commerce ———–>Consumer

SUB-TOPIC 2: SCOPE OF COMMERCE

The scope of commerce may be seen as embracing the totality of all the activities which ensure the distribution and exchange of goods and services for the satisfaction of the people. In all ramifications, commerce embraces trade and the auxiliaries or aids to trade.

The scope of commerce can therefore be referred to, as the different activities engaged in by people in commercial occupation. These activities include;