The development of commercial activities in West African countries was delayed as a result of the following factors. Inadequate provision of capital Low savings by both the government and V individuals. Inadequate infrastructural facilities. Poor transportation and communication network. Political instability. Low demand for goods and services.
Below are the importance/functions of commerce: Commerce provides employment opportunities to the people of a country, especially in the area of advertising, insurance, transport, banking and finance. It facilitates easy exchange of goods and services. It provides money for the development of business and industries. It also provides storage facilities where goods can be stored …
Scope means area of study. Commerce therefore, has two major areas namely (a) Trade and (b) Aids to trade. TRADE: Is the mechanism by which buyers and sellers bargain for exchange of goods and services. It is the act of buying and selling of goods and services. We have two. types of trade namely Home. …
Commerce is often described as the live wire that holds a nation. This is because in the absence of Commerce, the economy of every nation would grind to a halt. Without Commerce, producers will find it difficult to get materials needed for production. Also, without commerce, it will be impossible to sell goods that are …