Q.Fill in the blank: Trade and aids to trade are known as ……… . (commerce / business)

Commerce includes two kinds of activity — trade and auxiliaries to trade — and provides the essential link between producers and consumers, keeping a free flow of goods and services.

• Trade is the buying and selling (sale, transfer or exchange) of goods, making them available to consumers.
• Auxiliaries to trade are the services that make buying and selling possible — transport, banking, insurance, communication, advertising, packaging and warehousing.

Commerce works by removing the hindrances that stand between producers and consumers:

• Hindrance of persons → removed by trade;
• Hindrance of place → removed by transport, which moves goods from where they are made to where they are needed;
• Hindrance of time → removed by warehousing, which stores goods until required; …