A man has a garden shaped like a rectangle. He walks along one of the shorter sides at 2 meters per second for 10 seconds, then walks along the longer side at 1 meter per second for 15 seconds. What ...Read more
Commerce is the exchange of goods and services between individuals, businesses, or nations. It operates based on several fundamental principles that ensure efficiency, fairness, and sustainability. 1. Principle of Exchange Commerce revolves around the voluntary exchange of goods, services, or moneyRead more
Commerce is the exchange of goods and services between individuals, businesses, or nations. It operates based on several fundamental principles that ensure efficiency, fairness, and sustainability.
1. Principle of Exchange
- Commerce revolves around the voluntary exchange of goods, services, or money between buyers and sellers.
- It enables the movement of resources from areas of surplus to areas of demand.
2. Principle of Demand and Supply
- Market forces determine prices and availability of goods and services.
- A balance between demand and supply leads to price stability, while imbalances cause inflation or deflation.
3. Principle of Profitability
- Businesses engage in commerce to earn profits, which sustain operations and encourage growth.
- Profit motivates innovation, efficiency, and customer satisfaction.
4. Principle of Specialization and Division of Labor
- Businesses focus on specific products or services to enhance efficiency and expertise.
- Specialization leads to better quality, faster production, and cost savings.
5. Principle of Value Addition
- Commerce involves adding value to raw materials or services before selling them.
- Manufacturing, branding, packaging, and customer service enhance product appeal and marketability.
6. Principle of Free and Fair Competition
- Healthy competition promotes better products, fair pricing, and innovation.
- Monopolies and unfair trade practices harm consumers and the market.
7. Principle of Consumer Satisfaction
- Meeting customer needs and expectations ensures long-term business success.
- Ethical business practices, transparency, and quality assurance build customer trust.
8. Principle of Legal and Ethical Conduct
- Commerce operates under legal frameworks that regulate trade, protect consumers, and ensure fair dealings.
- Ethics in business, such as honesty and sustainability, enhance reputation and social responsibility.
9. Principle of Credit and Finance
- Financial systems, including banking, credit, and investment, support commercial activities.
- Access to capital enables businesses to grow, invest, and expand operations.
10. Principle of Globalization and Connectivity
- Commerce extends beyond local markets to national and international trade.
- Advances in technology, logistics, and communication facilitate seamless global transactions.
By following these principles, commerce ensures economic development, job creation, and wealth distribution, contributing to a thriving global economy.
See less

PERIMETER = 2(2*10+1*15) = 70 m
PERIMETER = 2(2*10+1*15) = 70 m
See less