Trade and Commerce

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Trade and Commerce


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/ productionoffsetting market imperfections including internalisation of externalities;

achievement of social policy objectives including redistribution of income, population control, etc.


VocabularyEnglish French Mercantilism mercantilismeVenture entrepriseBootlegging La contrebandeAmortization amortissementCommercialization commercialisationSubsidies Les subventions


Difference between Trade & Commerce

Trade

Trade refers to mere exchange of goods ,i.e., mere buying and selling of goods.

Trade is a branch of commerce.

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.

The scope of commerce is wider than that of trade.



Social Commerce


Import & Export

Exchange Rate

Customs


Trade shows

Training


Bootlegging

Documents

Trade and Commerce