Commerce obj
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Commerce Theory
(1)
i)Commerce tries to satisfy increasing
human wants; Human wants are never ending.
They can be classified as ‘Basic wants’ and
‘Secondary wants’.it has made distribution and
movement of goods possible from one part of
the world to the other.
ii)Commerce helps to increase our standard of
living; Standard of living refers to quality of
life enjoyed by the members of a society.
When man consumes more products his
standard of living improves.To consume a
variety of goods he must be able to secure
them first.
iii)Commerce links producers and consumers
Production is meant for ultimate consumption;
Commerce makes possible to link producers
and consumers through retailers and
wholesalers and also through the aids to
trade. Consumers get information about
different goods through advertisements and
salesmanship.
iv)Commerce generates employment
opportunities; The Groningen wth of commerce,
industry and trade bring about the growth of
agencies of trade such as banking, transport,
warehousing, advertising, etc.
These agencies need people to look after their
functioning. Increase in production results in
increasing demand, which further results in
boosting employment opportunities.
v)Commerce increases national income and
wealth; When production increases, national
income also increases. In a developed country,
manufacturing industries and commerce
together accounts for nearly 80% of total
national income.
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OR
i)Commerce tries to satisfy increasing
human wants
ii)Commerce helps to increase our
standard of living
iii)Commerce links producers and
consumers Production is meant for
ultimate consumption
iv)Commerce generates employment
opportunities
v)Commerce increases national income
and wealth explanation
( 1b)
-Land is a free gift of nature and also a place
where every other factors of productions take
place.
-labour is both mental and physical input on the
factors of production
-capital is the amount invested in the factor of
production
-enterpreneur is the person responsible to
supervise all other factors of production============={==={{===============
2ai) Features of cooperative society
1. there is perpetual existence or continuity
B. It is registered as a limited
liability.members liability is limited to the
share held
C. It is democratic in nature
D.profit is shared based on patronage.
2aii)
Mail order business
a. It is shopping by post
B.it is peculiar with cash on delivery
transaction and cash with order terms of
payment
C. Goods are delivered at the buyer’s
destination
D. Packages are usually to customers taste.
2bi) by expiration of agreement:-
Where the partnership is entered into for a
fixed period of time,it is assumed dissolved at
the expiration of the fixed date
ii. Bankruptcy of a partner:-
Partnership will be desolved when one of the
partners is bankrupt
iii. Insolvency of the business:- when the
business can not meet its obligations
Iv. Death of partner:- the death of a partner
will bring to an end
V. Insanity of a partnership:- if one of the
partners become insane,the remaining
partners can apply to the court for
dissolution.
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4a)Consignment note
Document prepared by a consignor and countersigned by the carrier as a proof of receipt of consignment for delivery at the destination. Used as an alternative to bill of lading (specially in inland transport), it is generally neither a
contract of carriage nor a negotiable instrument
4b)
delivery note
A document accompanying a shipment of goods that lists the description, and quantity of the goods delivered.
4.c
What is a 'Bill Of Lading'
A bill of lading is a legal document between the shipper of goods and the carrier detailing the type, quantity and destination of the goods being carried.
5i) medium of exchange: money is generally
acceptable by people in exchange of goods and
services.
(ii) transfer of value: since money is generally
acceptable means of payment and acts as a
store of value,it keeps on transferring value
from person to person and place to place
(iii) measure of value and unit of account:-
money serve as a unit of which the value of
goods is measured and expressed.its helps to
express the price of current and future
transactions.
(Iv) store of value:- money as a store of value
is meant to meet unforeseen emergency , with
the use of money, current spending as well as
savings for the future is permitted.
7b)
1) Marketing Helps in Transfer, Exchange and Movement of Goods:
(2) Marketing Is Helpful In Raising And Maintaining The Standard Of Living Of The Community:
(3) Marketing Creates Employment:
(4) Marketirce of Income and Revenue:
(5) Marketing Acts as a Basis for Making Decisions:
(6) Marketing Acts as a Source of New Ideas:Answers Loading………..
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