COMMERCE AND ECONOMICS

 1.       Commerce relates with other subjects like economics because they are all social subject

2.       Economics deals with the allocation of scarcity resources to satisfy the unlimited human wants.

3.       Economics is concerned with problems arising from the production and distribution of goods and services.

4.       Both subjects are interested in distribution of goods just as they are all interested in distribution of goods just as they are all interested in money and Banking.

Some differences between commerce and economics.

1.       Economics deals with the facts that all things are scarce relative to demand for them as economic resources required for them are factors for production which are limited in supply

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2.       Economics looks on that everything is limited in supply the problems of economics arises as how should the economics resources be shared out of plenty production which compete for them.

3.       Commerce takes economic facts as they are as it does not consider why firms in one industry are larger and why others are small.

4.       Commerce looks on why different parts of the country specialized in difference commodity.

5.       Commerce only considers that some firms of industry and that specialization of production exist and that restriction on imports has been imposed

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6.       Commerce is concerned with distribution of goods to the fact that whole sale and retail trade is carried only.