2. Commerce is the exchange and distribution of goods and services which involves the making of profits. The scope of commerce includes trade and aids to trade.

3. COMMERCE TradeAids to trade Insurance Advertising Transport Communication Warehousing Banking and finance Home Wholesale Retail Foreign Import Export Re-export

4. TRADE Within a countryAcross country Wholesaler Retailer CONSMER Retailer Wholesaler Importer Exporter

5. Aids to Trade Insurance: providing compensation for risks they have to take Advertising: providing information and promoting sales of goods and services Transport: moves raw materials, equipment and finished product whenever they are needed Communication: helps traders to exchange information and maintain contacts with one another Warehousing: providing storage for goods until needed Banking and finance: making money available at all stages of production of goods

6. Types of Production Primary: involves the direct extraction of natural resources from the earth. E.g. farming, fishing Secondary: concerned with all industries which change raw materials into semi-finished goods and finished goods. E.g. garment industry Tertiary: includes all industries that provide services to consumers or producers. E.g. teaching