How commerce helps in the removal of hindrance of person ,place or time?
Dear student,
Commerce includes buying and selling of goods and all auxiliary services like transport, communication, warehousing, advertisement, packaging, etc which are necessary for maintaining a free flow of goods and services.
Commerce removes hindrance of person, place or time in following manner:
(i) Hindrance of person refers to the problem of contact between producers and consumers commerce removes. This hindrance is removed by trade.Trade helps in making goods available to consumers from producers.
(ii) Hindrance of place refers to the problem of distribution of goods at distant places without loss. Commerce removes this hindrance by transportation.Transportation helps in removing hindrance of place by making goods available from place of production to market.
(iii) Hindrance of time refers to the problem of existence of time gap between production and consumption of goods. This hindrance is solved by warehousing or storage.Warehousing and storage facilitate stock holding till time of consumption or sale.
Regards
Commerce includes buying and selling of goods and all auxiliary services like transport, communication, warehousing, advertisement, packaging, etc which are necessary for maintaining a free flow of goods and services.
Commerce removes hindrance of person, place or time in following manner:
(i) Hindrance of person refers to the problem of contact between producers and consumers commerce removes. This hindrance is removed by trade.Trade helps in making goods available to consumers from producers.
(ii) Hindrance of place refers to the problem of distribution of goods at distant places without loss. Commerce removes this hindrance by transportation.Transportation helps in removing hindrance of place by making goods available from place of production to market.
(iii) Hindrance of time refers to the problem of existence of time gap between production and consumption of goods. This hindrance is solved by warehousing or storage.Warehousing and storage facilitate stock holding till time of consumption or sale.
Regards