Here students can locate TS Inter 1st Year Commerce Notes Chapter 2 Business Activities to prepare for their exam.
TS Inter 1st Year Commerce Notes Chapter 2 Business Activities
→ Business activities may be broadly classified into industry and commerce.
→ Industry refers to the production of wealth or value.
→ Industries are classified into
- Primary industry
- Genetic industry
- Extractive industry
- Manufacturing industry
- Construction industry
- Service industry.
→ Commerce is an organized system for the exchange of goods between the members of the industrial world.
→ There are several hindrances in the process of the exchange of goods and services.
→ Traders like wholesalers and retailers remove the hindrances of persons.
→ Transport removes hindrances of place.
→ Warehouses remove the hindrances of time.
→ Banks remove hindrances of finance.
→ Advertising removes hindrances of information.
→ The activities of buying and selling are called trade.
→ Trade is divided into Home trade and Foreign trade.
→ Home trade refers to sale and exchange of goods within the boundaries of a country.
→ When trade takes place between two or more countries, it is called foreign or international trade.
→ Home trade is divided into wholesale trade and retail trade.
→ Foreign trade is divided into export trade, import trade and entrepot trade.
→ Transport, warehousing, insurance, banking, advertising and communication are aids to trade.