Topics in CommercePrinciple of Marketing: Positioning as a Marketing Mix Principle of Marketing: Packaging as a Marketing Mix Elements of Promotion in Marketing Mix Principle of Marketing: Promotion as a Marketing Mix Principle of Marketing: Place as a Marketing Mix Principle of Marketing: Price as a Marketing Mix Principles of Marketing: The 7 Ps of Marketing Mix Factors necessary for Division of Labour Disadvantages of Division of Labour Advantages of Division of Labour Outbound Marketing explained Inbound Marketing explained Production - Types of Production Commerce: Definitions and Scopes of Commerce Differences between Balance of Trade and Balance of Payments Balance of Payment Deficit and Balance of Payment Surplus Disadvantages of Foreign Trade Divisions of Foreign Trade Advantages of Foreign Trade What is Foreign Trade? Types of Foreign Trade
Academic Questions in Commerce
The followings are principles of marketing mix except _____.
C. Pressure group
The followings are advantages of division of labour EXCEPT _____.
Which of the following statement is incorrect concerning division of labour?
What does a bearer cheque mean?
What is an order cheque?
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Commerce attempts to satisfy the unlimited human wants.
You can read on Scale of Preference and Opportunity Cost here.
Commerce is a source of employment to a large number of people in rural and urban comminities.
Commerce has helped to increase and improve the standard of living of the people.
Please read on Black Market, its Advantages and Disadvantages here.
Commerce is a business link between buyers and sellers without physical contact.
Please read on Business and Characteristics of Business here.
Commerce increase the income and wealth of Nations because duties are charged on both imported and exported goods.
Please read on Balance of Trade and Balance of Payment here.
Commerce promotes the transportation network within and outside a country.
Please read on Means and Modes of Transportation here.
Commerce encourages international trade and foreign exchanges.
Please read more on Foreign Trade and its Advantages here.
Commerce is very important in times of emergencies; e.g earthquake, wars and hurricanes; as food and other essential human resources are rapidly brought to affected areas.
Commerce facilitates mass production of goods and thus, people all over the world can enjoy goods and services within and outside their countries.
Please read on Production here.
Note: The Functions of Commerce are synonymous to the Importance of Commerce.
Commerce is 100% business and economic activity because it is aimed to earn profit.
Please read on the Concept of Business Studies here.
Commerce connects the processes of production and marketing.
Please read on the Concept of Division of Labour here.
Because human needs are unlimited, commerce is always a continous process.
Please read on the Definitions and Scopes of Commerce here.
The aim of commerce is to make profit.
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Transaction processes are always seen in commerce.
Please read on Methods of Payments (Bank Notes and Coins) and the Characteristics of Legal Tender here.
Since commerce is purely business, it is accompanied with challenges and uncertainty.
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Amazing facts in Commerce
Amazon is an e-commerce website launched in 1995. It did not make any profit for its first seven years.
Amazon's first profit was in 2003. Its founder 'Jeff Bezos' is the richest man in the world as at 2018/2019
NOTABLE POINTS IN Commerce
Commerce can be defined as the exchange of goods and services, usually for money and on a large scale that will require the transportation of such goods and services.
Commerce is crucial (important) to the life of any Nation for the following reasons:
A public company is not owned by an individual; rather it's usually owned by groups or a large number of people.
The shares of a public company are traded freely on the stock exchange.
Below are some features of a public company:
There are seven elements of the marketing mix. These are:
Think of marketing mix as the set of marketing tools that an industry or company uses to drive or accomplish its marketing objectives in the target market