Education

 PRODUCTION, COMMERCE AND CONSUMPTION -Production, commerce and consumption are three main parts of one continuous chain of events whose aim is to satisfy human wants. -Commerce is a part of production. Goods produced may be produced to consumers only after they have been manufactured or put in a form in which they can be consumed. -Production process is not complete …

SIMILARITIES OF COMMERCE AND ECONOMICS -Commerce is an important sub-division of the broader subject matter of the social sand analytical science –ECONOMICS. -Commerce is also referred to as DESCRIPTIVE OR PRACTIAL OR BUSINESS ECONOMICS since it deals with factual or practical element in economics. -In other words, business refers to the aggregate of economic activities carried on with a view …

OBJECTIVES OF BUSINESS RECENTLY DEVELOPMENTS The following are social economic and human objectives of business; ECONOMIC OBJECTIVES -To earn profit through production and selling of goods and services -To have fair dealings with business financiers including trade creditors, debenture holders, commercial banks and other financial institutions by paying them accordingly. -To expand the market size through creation of more customers …