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What are the five functions of commerce
Weegy: functions and importance of commerce: The exchange of goods is a complex process beset with several types of hindrances. Com­merce removes these hindrances. [ According to James Stephenson, "Commerce embraces all those activities which help to break the barriers between producers and consumers. It is the sum total of those processes which are engaged in the removal of hindrances of persons (trade), place (trans­port, packing and insurance), and time (warehousing) in the exchange (banking and finance) of commodities." Thus the main function of commerce is to remove the following hindrances: 1. Hindrance of person: This hindrance refers to the lack of contact between producers and consumers. The producer is faced with the problem of finding the buyers who need the goods he has produced and who are able and willing to buy such goods. The consumer does not know the source of supply of goods which would satisfy his needs at prices he can afford. Commerce removes this hindrance by means of trade. Trade provides an organised market where the buyers and sellers can contact each other. It saves both producers and consumers from the time-consum­ing and expensive exercise of locating each other. 2. Hindrance of place: A major problem faced by producers is to send their goods to distant places without loss through theft, pilferage, damage, etc. Commerce solves this problem by means of transport, packing and insurance. Modern means of transport carry goods too far-of places quickly and safely. Packing of goods helps to preserve their quality in transit and storage. With the help of packing, businessman can preserve the quality of goods. Thus, transportation and packing are useful commercial activities. 3. Hindrance of time: In modern industry goods are produced on a large-scale in anticipa­tion of demand. There is usually a time gap between the production and consumption of goods. Therefore, it becomes necessary to store the goods until they are sold. This ... (More)
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Asked 3/6/2013 5:41:10 AM
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Draw and Label A Well Daigram Of Agama Lizard....?
Weegy: A well labelled diagram of the agama lizard can be gotten from biology practical textbook. [Read full answer with photo here: ] (More)
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Asked 3/7/2013 2:20:37 AM
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What is photosynthesis?
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Updated 10 days ago|5/16/2015 7:04:27 AM
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Photosynthesis is the process of converting light energy to chemical energy and storing it in the bonds of sugar.
Added 10 days ago|5/16/2015 7:04:27 AM
This answer has been confirmed as correct, not copied, and helpful.
Define the principal focus.pole, applied to convex mirrow
Weegy: The focus of the convex mirror lies behind the mirror. The focus is virtual as the rays of light after reflection appear to come from the focus. [ It is known as a diverging mirror as the parallel rays of light after reflection appear to come from a point. The rays diverge after reflection. ] (More)
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Asked 3/6/2013 2:20:33 AM
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eiye creed
Weegy: Hi good sir. Unfortunately we do not have access to the Eiye creed online. You have to contact them yourself. User: who is the first eiye ibaka Weegy: What do you want to know about Eiye's creed? can you please give us the complete details when asking questions. thank you User: am an NIB,and i wish to recite it Weegy: Serge Jonas Ibaka Ngobila (born September 18, 1989), commonly referred to as Serge Ibaka, is a professional Spanish basketball player of Congolese origin, playing the power forward position for the Oklahoma City Thunder of the NBA. (More)
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Asked 3/6/2013 1:32:10 AM
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