Thangamani: Money

Thangamani: Money: Introduction Money is any item or verifiable record that is generally accepted as payment for goods and services and repayment of debt...

Money
Introduction

Money is any item or verifiable record that is generally accepted as payment for goods and services and repayment of debts in a particular country or socio-economic context, or is easily converted to such a form. The main functions of money are distinguished as: a medium of exchange; a unit of account; a store of value; and, sometimes, a standard of deferred payment. Any item or verifiable record that fulfills these functions can be considered as money.

History

The use of barter-like methods may date back to at least 100,000 years ago, though there is no evidence of a society or economy that relied primarily on barter. Instead, non-monetary societies operated largely along the principles of gift economy and debt. When barter did in fact occur, it was usually between either complete strangers or potential enemies.

Many cultures around the world eventually developed the use of commodity money. The Mesopotamian shekel was a unit of weight, and relied on the mass of something like 160 grains of barley. The first usage of the term came from Mesopotamia circa 3000 BC. Societies in the Americas, Asia, Africa and Australia used shell money – often, the shells of the cowry (Cypraea moneta L. or C. annulus L.). According to Herodotus, the Lydians were the first people to introduce the use of gold and silver coins. It is thought by modern scholars that these first stamped coins were minted around 650–600 BC

Sangeetha: Consumer

Sangeetha: Consumer: Introduction A   consumer   is a person or organization that uses   economic services   or   commodities . In   economic systems   co...

Consumer
Introduction
A consumer is a person or organization that uses economic services or commodities.

In economic systems consumers are utilities expressed in the decision to trade or not.
Economics and marketing
The consumer is the one who pays to consume goods and services produced. As such, consumers play a vital role in the economic system of a nation. Without consumer demand, producers would lack one of the key motivations to produce: to sell to consumers. The consumer also forms part of the chain of distribution.
Recently in marketing instead of marketers generating broad demographic profiles and Fisio-graphic profiles of market segments, marketers have started to engage in personalized marketing, permission marketing, and mass customization
Objectives
1. To educate consumers, balance consumer needs and degree of protection and to provide relevant consumer rights and entitlements.
2. To advice individual consumers and protect their rights.
3. To ensure prices of goods are fair and appropriate with relevance to its quality and value.
4. To work with the existing laws in order to protect consumer’s interest and general health.

COMMERCE

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.