Commerce is a term that embraces all those functions involved in the marketing, buying, selling and transport of goods.
Commerce and trade are terms used to describe the exchange of merchandise for money or the commodities. Trade can be classified in various ways home trade and foreign trade or wholesale trade and retail trade. Trade is that part of commerce concerned the buying and selling of goods. So the first classification regard the place where it is carried on. It is divided into home trade and foreign trade.
A. home trade is the buying and selling of goods carried on within the borders of a particular country. It may be either wholesale or retail.
1. wholesale trade is buying and selling of goods in large quantities.
2. retail trade is the sale of goods in small quantities direct to the consumer
B. foreign trade is the exchange of goods between different nation.
It is divided into import and export
1. import trade is concerned with the purchase of goods from a firm abroad
2. export trade is concerned with the sale of goods to a merchant in another country