Meaning & Definition of word "Commerce"

Commerce

ˈkɑː.mɜːrs

1. The activity of buying and selling, especially on a large scale.
- Example: The commerce between the two countries has greatly increased over the past decade.
2. The exchange of goods and services, particularly in a market.
- Example: E-commerce has transformed the way we conduct commerce today.
3. The social and economic system that governs the production and distribution of goods and services.
- Example: Many people study commerce at university to understand the dynamics of the global market.
4. The business sector involved in the exchange of goods and services.
- Example: Local commerce is vital for the economy of small towns.

●From Middle French 'commerce', from Latin 'commerciu(m)', from 'com-' and 'merx' (merchandise).

e-commerce:

Commerce conducted via the internet.

commercial law:

The body of law that governs business and commercial transactions.

social commerce:

The use of social media platforms to facilitate commerce.

merchant:

A person or company involved in wholesale trade.

consumer:

A person who purchases goods and services for personal use.

retail:

The sale of goods to the public in relatively small quantities.

Meaning: B2B (Business to Business)

● Example Sentence: Many startups operate in the B2B commerce space.

Meaning: B2C (Business to Consumer)

● Example Sentence: B2C commerce is booming with the rise of online shopping.