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the simplicity of its definition. 21st century commerce is not a simple concept. It’s huge and complex. You are surrounded by, and participate in commerce every day. Commerce drives the world’s economies, dominates politics and political dialogue, and defines global relations.
Business vs. Commerce The terms business and commerce are often used interchangeably, but they are not really the same things. A business is a firm or enterprise that engages in the activity of making, buying, or selling goods or providing services in exchange for money . That can be a small mom and pop store, or a company as big and global as Google or Boeing. The system of commerce includes businesses, government agencies, and organizations which interact to enable businesses to operate, goods and money to flow locally and around the world. Successful and expanding business enterprises is the primary goal of commerce. Commerce and business have kind of a symbiotic relationship. Without the buying and selling of goods and services by businesses, there would be no commerce; without a system of commerce, buying and selling goods and services and growing a successful business would be difficult indeed. Businesses operate within the wide and complex system of commerce. Local Commerce Local commerce refers to the interacting network of businesses, government agencies, and organizations of a local or regional area . The cafes, stores, factories, and farms in your town or county are engaged in local commercial activities. Local commerce is made up of many small businesses. The designation of a business as small , means it employs between 10-500 people, although the designation can change from country to country, and if the business has very high earnings. A microbusiness is a very small, often family-owned business, employing just a few people. Small and microbusinesses are key components of local commerce. When you stop for a burger at a local cafe, see your dentist for a check up, or fill up at the gas station on the corner, you are participating in local commerce. Local commerce is very important to the economic vitality of a region. Local commerce is so important to the economic health of a region that most towns in America have a Chamber of Commerce . It is an association of local businesses that network and organize to support, promote, and advocate for their businesses and products. There is also a U.S. Chamber of Commerce which is a powerful nationwide association of local chambers of commerce and businesses . They use their strength-in- numbers to advocate (lobby) for pro-business U.S. government policies and laws benefiting SMEs (small-to- medium size business enterprises.) Domestic Commerce Domestic commerce refers to the sale and exchange of goods and services within the borders of a country . It includes interstate and intrastate commerce. Interstate commerce is the sale and exchange of goods or services between different states , such as when California oranges are bought by a Utah-based grocery store PRODUCT PREVIEW
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Lesson 1 | Look Out, You’re Surrounded!
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