Commerce: Unlocking the Secrets of Commerce, Your Guide to Thriving in the Global Marketplace

By Fouad Sabry

What is Commerce

Commerce is the large-scale organized system of activities, functions, procedures and institutions that directly or indirectly contribute to the smooth, unhindered distribution and transfer of goods and services on a substantial scale and at the right time, place, quantity, quality and price through various channels from the original producers to the final consumers within local, regional, national or international economies. The diversity in the distribution of natural resources, differences of human needs and wants, and division of labour along with comparative advantage are the principal factors that give rise to commercial exchanges.

How you will benefit

(I) Insights, and validations about the following topics:

Chapter 1: Commerce

Chapter 2: Capitalism

Chapter 3: E-commerce

Chapter 4: Tertiary sector of the economy

Chapter 5: Merchant

Chapter 6: Market economy

Chapter 7: Wholesaling

Chapter 8: Commodity fetishism

Chapter 9: Economic system

Chapter 10: Drop shipping

Chapter 11: History of capitalism

Chapter 12: International business

Chapter 13: Market (economics)

Chapter 14: Online marketplace

Chapter 15: Import

Chapter 16: Economic law

Chapter 17: History of trade of the People's Republic of China

Chapter 18: Black market

Chapter 19: Competition

Chapter 20: Economic democracy

Chapter 21: Employment

(II) Answering the public top questions about commerce.

(III) Real world examples for the usage of commerce in many fields.

Who this book is for

Professionals, undergraduate and graduate students, enthusiasts, hobbyists, and those who want to go beyond basic knowledge or information for any kind of Commerce.

• Language: English
• Publisher: One Billion Knowledgeable
• Release date: Apr 5, 2024

Book preview

Chapter 1: Commerce

Commerce is the large-scale, well-organized system of activities, functions, procedures, and institutions that facilitates the efficient and orderly flow of goods and services from producers to consumers within a given economy at the optimal time, place, quantity, and price.

The Latin word commercium, meaning commercial exchange, is the etymological ancestor of our English word business (merchandise).

As opposed to the sourcing of raw materials and manufacturing of those goods, commerce is the part of business that is concerned with the movement and distribution of finished or intermediate (but valuable) goods and services from the primary manufacturers to the end customers on a large scale.

Business is distinct from trading. Trade is the buying and selling of products and services that generates surplus value for the seller while meeting a consumer's demand. Domestic trade, which can be either wholesale or retail, refers to transactions that take place within a single nation. A wholesaler makes large purchases from a manufacturer and then sells to retailers, who in turn make smaller sales to consumers. Foreign or international trade refers to the buying and selling of goods between countries on a global scale, including imports and exports.

In addition to the goods and services defined above, commerce also includes the infrastructure that enables these exchanges to occur. An auxiliary service, also known as an aid to trade, is one that helps manufacturers get their products to the people who need and want them. Transportation, communication, storage, insurance, banking, the financial markets, advertising, packaging, and the work of commercial agents and agencies all fall under this category. Trade on a global scale involves many different factors, including politics, economics, technology, logistics, law, regulation, society, and culture. From a marketing standpoint, commerce generates time and place utility by relocating or repositioning products and services to where they will be most convenient for customers. In this definition, business includes trade because trade is a subset of commerce.

The caduceus – used today as the symbol of commerce, Exploration and ocean-going vessels ushered in a new era, Business went global in a big way, international renown.

Commerce is now possible between cities, regions, and countries located anywhere in the world thanks to the reliability of international trans-oceanic shipping and mailing systems and the convenience of the Internet. Internet-based electronic commerce (where financial information is transferred over the Internet) and its offshoots, like wireless mobile commerce and social commerce based on social networks, have been and are becoming increasingly popular in the 21st century.

A country's domestic and international trade are overseen, encouraged, and controlled by the relevant legislative bodies and ministries or ministerial departments. Bilateral treaties between countries can govern international trade. In the decades following World War II, multilateral arrangements like the General Agreement on Tariffs and Trade (GATT) and the World Trade Organization (WTO) emerged as the preeminent frameworks for governing international trade. The International Chamber of Commerce (ICC) is another crucial group that regulates business practices and arbitrates conflicts on a global scale.

{End Chapter 1}

Chapter 2: Capitalism

Capitalism is an economic system in which the means of production are privately owned and operated for profit.

As early as the 17th century, writers were using the term capitalist to describe someone who owned capital. Capital is derived from capitale, which is derived from caput, meaning head in late Latin; chattel and cattle, in the sense of movable property, are also derived from this root (only much later to refer only to livestock). In the Middle Ages, the term capitale came into use to denote a sum of money, a stock of goods, or any other monetary asset that carried an interest rate. According to the OED, private capitalism was first used in 1863 by German American socialist and abolitionist Carl Adolph Douai.

Cosimo de' Medici, who established a global banking empire and was a pioneering member of the Medici family

Agrarian capitalism and mercantilism developed in early Renaissance city-states like Florence, laying the groundwork for modern capitalism.

As the manorial system collapsed and land was consolidated into the hands of fewer landlords with larger estates in 16th-century England, the economic underpinnings of the feudal agricultural system began to shift significantly. Workers were increasingly employed as part of a larger, expanding money-based economy, as opposed to a serf-based system of labor. Landlords and tenants were both compelled to boost agricultural output for financial gain as a result of the system; the diminished coercive power of the aristocracy to extract peasant surpluses encouraged landlords to experiment with new techniques, and tenants needed to innovate in order to thrive in the increasingly competitive labor market. Market forces were beginning to replace the outdated system of custom and feudal obligation when it came to the terms of land