The primary objective of commerce is value addition through various economic activities.

Marketing involves the buying and selling of goods to meet consumer needs and wants.

Accounting involves recording financial transactions and preparing financial statements for decision-making.

Finance in commerce involves managing funds, making investment decisions, and ensuring financial stability.

Management involves organizing, planning, and controlling resources to achieve organizational goals.

Economics studies the production and distribution of goods and services in society.

Information technology is crucial for communication, data storage, and processing in modern commerce.

The WTO regulates international trade and ensures fair business practices among member countries.

Globalization involves increased interconnectedness and expanded international trade in commerce.

Risk management aims to minimize uncertainties and potential losses in commercial activities.

The supply chain encompasses the flow of goods and services from the point of production to the end consumer.

Market research helps businesses understand consumer needs, preferences, and market trends.

Marketing focuses on understanding consumer behavior and developing strategies to meet market demands.

Human resource management involves recruiting, training, and developing employees to enhance organizational performance.

CSR aims to enhance a company's brand image by contributing to societal well-being and responsible business practices.

Entrepreneurship involves identifying business opportunities, innovation, and risk-taking in commerce.

E-commerce involves electronic transactions, buying, and selling goods and services over the internet.

Ethics in commerce involves ensuring fair and ethical business practices and social responsibility.

GDP measures the total value of goods and services produced by a country in a specific period.

Microeconomics focuses on individual economic entities, such as households and firms, and their decision-making processes.

Macroeconomics studies aggregate economic indicators such as GDP, inflation, and unemployment on a national or global scale.

The "invisible hand" represents natural market forces guiding economic decisions without government intervention.

"Capital" in commerce refers to money invested in a business for production and growth.

The Central Bank regulates and controls the money supply and formulates monetary policy in commerce.

Opportunity cost refers to the cost of forgoing the next best alternative when making a decision in commerce.

Fiscal policy involves managing government expenditure and taxation to influence economic conditions in commerce.

Capitalism is characterized by private ownership of the means of production and free-market competition.

The World Bank provides financial aid and development assistance to countries to support economic growth.

The IMF provides financial assistance to countries facing balance of payments problems in commerce.

Tariffs are taxes imposed on imports and exports in international commerce.

GATT aims to promote free trade and reduce trade barriers in international commerce.

The International Labour Organization (ILO) promotes fair labor standards and workers' rights in commerce.

A trade embargo involves restricting or prohibiting trade with a specific country in international commerce.

Brand equity refers to the financial value and perception of a brand in commerce.

Consumer protection laws aim to ensure fair and ethical business practices and protect consumers from harm in commerce.

The balance of trade measures the difference between a country's exports and imports in international commerce.

A patent provides legal protection for inventions in commerce, preventing others from using, making, or selling the invention without permission.

The SEC enforces securities laws and protects investors by ensuring transparency and fairness in the financial markets.

Capital budgeting involves evaluating and selecting long-term investment projects in commerce.

The Fed conducts monetary policy and ensures financial stability by regulating the money supply and interest rates in the United States.

Outsourcing involves contracting out business processes, such as manufacturing or customer support, to external providers in commerce.

In a command economy, the Central Economic Planning Authority plans and controls economic activities, including resource allocation and production.

The BBB promotes ethical business practices and consumer trust by providing ratings and reviews for businesses.

Venture capital refers to start-up funding provided to new and high-potential businesses in commerce.

The GNP measures the total value of goods and services produced by a country's residents, including those living abroad, in commerce.

An oligopoly is a market structure characterized by a few large sellers dominating the industry in commerce.

The time value of money focuses on evaluating the impact of time on the value of money, especially in investment decisions in commerce.

The FTC enforces antitrust laws and protects consumers by promoting fair competition and preventing deceptive business practices in the United States.

Elasticity measures the responsiveness of quantity demanded to a change in price in commerce.

The ICC promotes international business and trade by providing a forum for business leaders and addressing global business issues.

A monopoly is a market structure characterized by a single seller dominating the industry, often with no close substitutes.

A central market facilitates the exchange of goods and services by providing a centralized location for buyers and sellers in commerce.

Collusion involves secret or illegal cooperation among businesses to control market prices and reduce competition in commerce.

The IASB develops and promotes international accounting standards to ensure consistency and transparency in financial reporting in commerce.

Market equilibrium is a condition in commerce where quantity demanded equals quantity supplied, leading to a stable market price.

WIPO protects intellectual property rights globally by establishing international standards and offering legal tools for IP protection in commerce.

Brand loyalty refers to a consumer's strong preference for a particular brand over others in commerce.

ISO develops and publishes international standards to ensure the quality, safety, and efficiency of products and services in commerce.

Market segmentation involves dividing a market into distinct groups with similar needs and characteristics in commerce.

Utility in economics refers to the satisfaction or pleasure derived from consuming goods and services, which influences consumer behavior in commerce.