Business Studies · Introduction to Commerce
Which of the following statements best defines the scope of 'Commerce'?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1It refers exclusively to non-monetary bartering in rural economies.
- 2It is concerned only with the manufacturing process within a industry setup.
- 3It is strictly restricted to the primary production and extraction of raw materials.
- 4It comprises all those activities which are involved in the exchange of goods and services for money, including hindrances of place, time, and finance.✓
Correct answer
It comprises all those activities which are involved in the exchange of goods and services for money, including hindrances of place, time, and finance.
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