What is Commerce? Definition, Types, and Importance

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The size of the business has developed a lot in the modern era. This one word which we get to hear again and again what is commerce.

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Talking about the study of commerce, it can be taken like science and art,

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The process of transporting a commodity from production to the consumer is called commerce.

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Under which business, industry, banking, communication, traffic, etc., are included.

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Commerce is the exchange of goods and services between businesses, individuals, or countries.

There are three types of commerce: trade, aids to trade, and auxiliaries to trade.

Trade involves the exchange of goods and services between two parties.

Aids to trade include transportation, communication, banking, insurance, and warehousing.

Auxiliaries to trade include advertising, packaging, labeling, and standardization.