COMMERCE AND TRADE

Commerce is a form of production, and it deals with the sale, purchase, and
distribution of products.
When talking about commerce, we can distinguish six branches:
1) TRADE, which is the action of buying and selling products, services, and
currencies.
2) MARKETING AND ADVERTISING, which identify and satisfy the
customers’ needs in the best possible way.
3) WAREHOUSING, which is the storage and movement of products in and
out of a warehouse.
4) TRANSPORT, which is the movement of products from one place to
another.
5) BANKING, which is the activity of banks.
6) INSURANCE, which is the protection given to people or businesses against
loss or damage in return for the payment of a premium.

TRADE
Trade is the basic element of commerce. There are different types of trade, and we
can distinguish between HOME TRADE and FOREIGN TRADE.
• HOME TRADE is the definition for all trade that happens inside the borders
of a country.
Home trade can also be divided into WHOLESALE TRADE and RETAIL
TRADE.
The WHOLESALE TRADE deals with the sale of large quantities of
products to retailers.
The RETAIL TRADE deals with supermarkets, shops, etc. which sell
products to the public in small quantities.
• FOREIGN TRADE refers to all trade that happens in different countries
and it is also called international trade.
Foreign trade is mostly wholesale and can be divided into IMPORT TRADE
and EXPORT TRADE.
The IMPORT TRADE deals with all the products imported from abroad.
The EXPORT TRADE deals with all the products sold to other countries.