SS1 Commerce

Occupation refers to any economic or productive activity individuals undertake to produce and obtain goods and services for their livelihood. In today’s world, people participate in various activities to earn …

Large-scale retail trade involves businesses that operate as big stores or chains of stores, operating on a large scale to serve a wider audience. They carry a wide range of …

Factors of production refer to the essential resources used in producing goods and services. Typically, multiple resources are required to manufacture a product. These resources are categorised into four main …

Small-scale retailing plays an essential role in the economy by offering personalised customer service, fostering local economies, and providing unique products that often reflect community needs and preferences. This basically …

A retail outlet is any location where goods are sold directly to consumers. This includes petrol stations, garden markets, restaurants, and other similar businesses. Retailing continues to evolve, with new …

Middlemen are independent businesses that act as a bridge or connection between producers and consumers, other intermediaries, or industrial users. They are also commonly known as intermediaries. The ‘producers’ here …

Balance of trade refers to the difference between the total value of goods a country exports (sells to other countries) and imports (buys from other countries) during a specific period, …

Warehousing is the act of storing goods and products in a dedicated facility called a warehouse. A wharehouse serves as a centralised location where items are kept until they are …

Commerce refers to the exchange and distribution of goods and services, which involves buying and selling—essentially, trading. While commerce is often similar to “trade,” it encompasses much more. In wider …