FOREIGN TRADE
Foreign trade, otherwise called international trade, is the exchange of goods and services between two or more countries. The principle underlying the buying and selling between one country and another is specialisation. The theory of international trade, therefore, is based…
PRODUCTION
Production can simply be defined as the creation of utility or production is the creation of goods and services which satisfy human wants. All goods and services produced must possess utility, which means that they must be capable of satisfying…
DEVELOPMENT OF COMMERCE
HISTORY OF COMMERCE IN NIGERIA In the olden days, people engaged in subsistence production. This means they were producing goods for themselves and their families. Later they started interacting with one another because it was difficult for them to meet…
INTRODUCTION TO COMMERCE
MEANING OF COMMERCE Commerce can simply be defined as all the activities involved in the distribution and exchange of goods and services. In other words, commerce is a branch of production which is concerned with the distribution, exchange of goods…
Study Guide
