question_answer

What are the functions of commerce?

Answer:

Ans.     The functions of commerce are as follows:

1. Removing the hindrance of person and that means lack of information to producer about consumer and to consumer about the producer. It is removed by advertising.

2. Transportation removes hindrance of place.

3. Storage and warehousing activities remove the hindrance of time.

4. Banking removes the hindrance of finance.

5. Insurance removes the hindrance of risk.

6. Advertising removes the hindrance of information.