Introduction
Commerce is the activity of buying and selling of goods
and services, especially on a large scale. The
system includes legal, economic, political, social, cultural and technological
systems that are in operation in any country or internationally. Thus, commerce is a system or an environment
that affects the business prospects of economies.It can also be defined as a
component of business which includes all activities, functions involved in
transferring goods from producers to consumers
History
Some
commentators trace the origins of commerce to the very start of communication in prehistoric times. Apart from
traditional self-sufficiency, tradingbecame a principal facility of prehistoric people, who bartered what they had for goods
and services from each other. Historian Peter
Watson and Ramesh Manickam dates the history
of long-distance commerce from circa 150,000 years ago.
In historic times, the introduction
of currency as a standardized money, facilitated a wider
exchange of goods and services. Numismatists have collections of these monetary tokens, which include coins from some Ancient World large-scale societies, although initial usage
involved unmarked lumps of precious metal.
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