1. Commercial Activities
Commercial activities encompass a range of processes aimed at earning income and satisfying human wants through the production and distribution of goods and services. These activities are classified into economic and non-economic types. Economic activities include business, professions, and employment, all playing critical roles in driving economic growth and creating a thriving marketplace.
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What we have learnt
- Commercial activities are fundamental for earning profit through the production and exchange of goods and services.
- Economic activities can be classified into business, profession, and employment.
- The importance of commercial activities includes economic growth, job creation, and improved living standards.
Key Concepts
- -- Economic Activities
- Activities undertaken to earn income, including business operations, professional services, and employment.
- -- Commercial Activities
- Economic activities related to the production and exchange of goods and services aimed at satisfying consumer demand.
- -- Trade
- The buying and selling of goods and services, which can be internal (within a country) or external (between countries).
- -- Auxiliaries to Trade
- Supporting activities that facilitate trade, such as transport, banking, insurance, warehousing, advertising, and communications.
- -- Objectives of Commercial Activities
- Goals that include earning profits, satisfying consumer needs, creating employment, and contributing to economic development.
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