Question
With reference to Commerce, which of the following
statements is/are correct? (1) It is the field of business that assists in the removal of all impediments to the facilitation of exchange. (2) It deals with the factors of delivering the products to the consumers. Select the correct answer using the code given below:Solution
Commerce is the field of business that involves the exchange of goods, services, or other things of value between businesses or individuals. It includes the activities of removing all impediments that may hinder the facilitation of exchange (such as trade barriers, taxes, etc.), and it also deals with the factors involved in delivering the products to consumers. This includes logistics, transportation, and ensuring that products reach consumers in an efficient manner. Thus, the correct answer is (c), Both 1 and 2.
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