What does Commerce mean in economics?

Definition: Commerce refers to the well organized set up of large-scale interchange of products, service or something of value, for money or money’s worth, among the economic agents. It covers all the activities which directly or indirectly assist in the process of exchange. Basically, it is concerned with the distribution aspect of the business.

What is commerce & why is it important?

Commerce is the trade of goods, services, or other things of value between companies or organizations. In a broad sense, governments try to manage trade to make their people happier and healthier by creating jobs and making useful goods and services. Understanding commerce Since the beginning of trade, people have been trading goods and services.

What does Commerce mean today?

Today, commerce commonly refers to the large-scale purchases and sales of goods and services. Commerce is a subset of business that focuses on the distribution of goods. Selling a single item is a transaction. All transactions are collectively called commerce.