COMMERCE

Ware-Housing Management Ware-housing Management Meaning of the Terms Ware-housing and Ware-house Define the terms ware-housing and ware-house Warehousing is the institutional arrangement for the storage of goods i.e. receiving, storing and dispatching the goods to the uses. It is a very important aids to trade and through it trade can be operated efficiently. A warehouse is … Read more

Meaning of Wholesale Trade Define wholesale trade Wholesale trade is a form of trade in which goods are purchased and stored in large quantities and sold, in batches of a designated quantity, to resellers, professional users or groups, but not to final consumers. Also wholesale trade may be defined as marketing and selling merchandise to retailers, to … Read more

Meaning of Retail Trade Define Retail Trade Retail trade is the sale of goods in small quantities to consumers. OR is a business activity involving buying goods and retailing them to ultimate consumers without changing the physical and chemical form of goods. Retailer:  One who sells goods or commodities directly to consumers. These items are … Read more

Theory of Supply The Meaning of Supply Explain the meaning of supply What Is Supply? In economics, we have two forces: the producer, who makes things, and the consumer, who buys them. Supply is the producer’s willingness and ability to supply a given good at various price points, holding all else constant. An increase in … Read more

Theory of Demand Demand is willingness (desire) and the ability to buy a certain quantity of a commodity at the going price at a specific period of time. Condition for effective Demand Willingness to buy Ability to buy Specific period of time Given price level Community Demand Schedule and Curves Draw demand schedule and curves … Read more