Presentation Transcript

1. TradeandCommerce

2. Vocabulary Mercantilism: Mercantilism is the economic doctrine in which government control of foreign trade is of paramount importance for ensuring the prosperity and military security of the state Venture: A commercial undertaking that risks a loss but promises a profit Bootlegging:The act of selling illegally or without permission Amortization: payment of an obligation in a series of installments or transfers. Commercialization : Commercialization is the process or cycle of introducing a new product or production method into the market. Subsidies:  creating a wedge between consumer prices and producer costs, lead to changes in demand/ supply decisions. Subsidies are often aimed at : inducing higher consumption/ production offsetting market imperfections including internalisation of externalities; achievement of social policy objectives including redistribution of income, population control, etc.

3. Vocabulary

4. Difference between Trade & Commerce Trade Commerce Commerce refers not only buying and selling of goods, but also other activities, such as transport ,insurance , warehousing, banking and advertising, which helps buying and selling of goods.  Commerce is a branch of business.  • Trade refers to mere exchange of goods ,i.e., mere buying and selling of goods. • Trade is a branch of commerce. The scope of commerce is wider than that of trade.

6. Social Commerce

7. Customs Exchange Rate Import & Export

8. Trade shows Training

9. Bootlegging