MEANING OF COMMERCE
Commerce is defined as the activities involved in the distribution and exchange of goods and services.
Commerce is also a brand of production which concerned with the distribution, exchange of goods and services and all activities which assist or facilitate trade, example: banking, insurance, transportation, communication, tourism etc.
It is the process of buying, selling and distributing goods and services.
However, the process of living which involves the three major activities which are Production, Consumption And Exchange.
In a central Focus of Commerce, Exchange would concentrate on the transfer of goods and services from their producers to the customers.
Commerce is therefore concerned with trade and activities which assist trade. It also involves time, place and utilities.
Commerce also developed as a result of specialization.