SS1 Commerce

Have you ever tried to trade your notes for lunch at school? Probably not. But imagine living in a time when that was normal, people exchanging things like rice for …

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 …