TEXT1 what is commerce ? Commerce is the exchange of items of value between persons or companies. Any exchange of money a product, service or information is considered as a transaction of commerce. The trading of items for other items also is included in the definition of commerce. These trades do not need to occur physically in a single location. And the transactions made over the internet also known as e-commerce became widespread during the early 21st century. In early times, people traded their excess goods with others for needed goods. So, for example, when a produce farmer had excess crops, he might trade with a neighbor who raised animal. This deal enabled both of them to have meat and produce to eat. This type of barter does not always work effectively, because the produce farmer’s crop might not be ripe when the animal farmer has animals to trade. Such situations led to the development of money, which permits each type of good to be traded more easily. Before technological advances, people were able to trade only face to face, usually with their neighbors. As new methods of transportation developed, people became able to trade with people from distant places. The discovery of America resulted from an attempt to improve commerce. That is, it was an unplanned result of the Europeans’ attempt to find a more direct route to Asia to trade goods for Indian spices.
Posted on: Sun, 17 Nov 2013 17:23:12 +0000
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