© 2011 wheresjenny.com trade and commerce. © 2011 wheresjenny.com vocabulary mercantilism:...
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Trade and Commerce
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Vocabulary Mercantilism: Mercantilism is the economic doctrine in which government control of foreign trade is
of paramount importance for ensuring the prosperity and military security of the state
Venture: A commercial undertaking that risks a loss but promises a profit
Bootlegging: The act of selling illegally or without permission
Amortization: payment of an obligation in a series of installments or transfers.
Commercialization : Commercialization is the process or cycle of introducing a new product or production method into the market.
Subsidies: creating a wedge between consumer prices and producer costs, lead to changes in demand/ supply decisions. Subsidies are often aimed at :
inducing higher consumption/ production
offsetting market imperfections including internalisation of externalities;
achievement of social policy objectives including redistribution of income, population control, etc.
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VocabularyEnglish French Mercantilism mercantilismeVenture entrepriseBootlegging La contrebandeAmortization amortissementCommercialization commercialisationSubsidies Les subventions
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Difference between Trade & Commerce
Trade
Trade refers to mere exchange of goods ,i.e., mere buying and selling of goods.
Trade is a branch of commerce.
Commerce Commerce refers not only buying
and selling of goods, but also other activities, such as transport ,insurance , warehousing, banking and advertising, which helps buying and selling of goods.
Commerce is a branch of business.
The scope of commerce is wider than that of trade.
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Social Commerce
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Import & Export
Exchange Rate
Customs
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Trade shows
Training
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Bootlegging