Business principles refer to the basic ideas, concepts, and practices that guide business activities, trade, and the exchange of goods and services. It covers a range of topics, such as the basic nature of business, the different branches of trade and industry, the growing role of e-commerce, and the methods of managing and organizing a business enterprise.
Principle Of Commerce Notes
Principle Of Commerce(Commercers Notes) for I-Com Part-I / First Year / Class 11 / HSSC-I are specially prepared for the students of Federal Board of Secondary Education (FBISE) and all the education boards of Punjab, Sindh, KPK, Balochistan and Azad Kashmir. These notes help the students to understand the basic concepts better and perform well in the exams. If these notes are read and prepared regularly, the students can score excellent marks.
I Com students can get the best notes for almost all the subjects, including Economics Principle Of Commerce, Accounting and other subjects. This page is specially prepared for the subject of Principle Of Commerce. This subject provides students with professional knowledge that reflects real business situations. Through this, students can fully understand all the stages of business and its environment. Along with this, they also get acquainted with the current business conditions and the scale of business in the global market. Although this subject may seem a bit difficult, students are advised to take advantage of the old papers of Principle Of Commerce and other sources available on Graylap.com for further preparation. With the help of these best notes, you can achieve better results.
Scope of Commerce
Trade refers to the process of distributing goods, that is, moving goods from where they are produced in large quantities to where they are in short supply and in high demand. It is a vast and complex system that includes all activities related to buying and selling. For this reason, trade is often called the aorta of a nation. The economic prosperity and development of a country largely depends on trade activities. The most significant effect of this development is that people gain access to goods that are produced in another region as a necessity.
In a broad sense, trade refers to all the activities and factors that make it possible to exchange goods and services for money or some financial value. It includes not only buying and selling but also all the supporting services that facilitate trade, such as banking, insurance, and transport.
Divisions of Commerce
Trade is divided into two parts: buying and selling and the supporting means of trade. Buying and selling refers to the transaction of goods that establishes a relationship between the producer and the consumer. There are two types of trade: internal trade and external trade. Trade that takes place within a country is called internal trade, while trade that takes place between two different countries is called external trade. Similarly, the supporting means of trade are the services that make commercial activities possible and easy, such as banking, insurance, warehousing, and the role of agents.
BANKING:
The banking sector is not limited to providing loans only but also facilitates the transfer of money from one country to another. Without banks, foreign trade is not possible. By providing loans, banks become a means through which capital is transferred from those who cannot use it effectively, to those who can use it more efficiently and productively for the benefit of the entire society.
INSURANCE COMPANY:
At this stage of business development in today’s era, no investor is willing to invest a large sum of money without protection against any loss. In this case, insurance companies step forward and take on this risk, which gives businessmen the opportunity to do business with confidence and without hesitation.
TRANSPORTS:
Transport is considered the backbone of trade and plays a very important role in its development. A modern and efficient transport system is essential for the commercial development of any country. Transport works to move goods from one place to another, which creates locational efficiency in them. It expands the market and makes goods accessible to more people. Thus, transport supports trade to a large extent because it provides consumers with the opportunity to choose from a wider variety of goods at reasonable prices, which increases their comfort and satisfaction.
Trade Agents
These are middlemen who act as intermediaries between producers and wholesalers. They receive goods from producers and then sell them to wholesalers.
Important Features Principle Of Commerce
As per the latest I-Com (Part I) syllabus, approved by the education boards.
Written in simple and easy language, with clear definitions and examples.
Covers all the important topics, such as commerce, business organization, banking and insurance.
Exercises included at the end of each chapter, so that students can prepare and test themselves.
Specially prepared for exam preparation, with board style questions and MCQs.
Q1: What is Principles of Commerce?
A1: It is the study of basic rules and practices of trade and business.
Q2: Why should students study it?
A2: To understand business activities and prepare for exams and future careers.
Q3: What topics does it cover?
A3: Trade, business organization, banking, insurance, transport, and e-commerce.
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