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chain for sale in its Wyoming stores, or auto parts manufactured by a company in Georgia are bought by a South Carolina company. Intrastate commerce refers to the sale or exchange of goods within the boundaries of the same state , such as when a business in Texas buys a product or service from another business in Texas.
Global Commerce When you think about global commerce, think big, really big. Global commerce is the worldwide system of businesses, governments, government agencies, and organizations that interact to enable businesses to operate, goods, money, and services to flow between countries . 21st century commerce is highly globalized. The commercial and economic systems of countries are interdependent. For example, a factory fire in a remote province in China can have a significant impact on a business in Australia; a political crisis in Russia can have an impact on software sales in South America; a financial crisis in Japan can effect oil production in the Middle East. That would not have been the case 100 or so years ago, when commerce was primarily local or domestic. These days, many companies are multinational which means that they are headquartered in one country, with employees, operations, and facilities in several countries. E-Commerce and M-Commerce E-commerce is the buying and selling of goods or services over the internet . Within the larger category of e-commerce, purchases made with a mobile device such as a cell phone or tablet are referred to as m-commerce . It would be an understatement to say that e-commerce is booming. According to forecasts, worldwide e-commerce sales will hit $2.357 trillion by 2017. That’s right, $2,357,000,000,000. China has the world’s largest e-commerce market. E-commerce sales are referred to as b2c (business-to-consumer) or b2b (business-to-business.) Where Does Government Fit In? Local government is an essential part of local commerce. It provides business licenses, establishes and enforces local business laws, and maintains municipal services like fire and police departments. It also enforces the safety and quality standards of local businesses, and the reliable delivery of utilities like water and power. State governments are involved in commerce on many levels, from collecting sales and income taxes, to keeping infrastructure like roads and highways in good condition for moving and distributing goods, to enforcing laws and regulations protecting the purchasers and users of goods and services. Public education is a service provided by states designed to assure the continued availability of an educated population capable of sustaining the workforce. At the federal level , the job of monitoring and promoting commerce at home and abroad goes to the Department of Commerce . Its stated mission is to "promote job creation and improved living standards for all Americans by creating an infrastructure that promotes economic growth, technological competitiveness, and SLIDE 1J SLIDE 1I PRODUCT PREVIEW
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THE 21st CENTURY STUDENT’S GUIDE TO FINANCIAL LITERACY
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