Why Is Commerce Important?
“Social changes in the country are also influenced by the development of commerce. Trade and allied activities directly or indirectly influence every human being. ”
Commerce has become the lifeline of every country. The level of development and the standard of living of the people are linked to the state of commerce in a particular country.No country can progress without the development of commerce. The needs of the people are not limited to the goods produced at their places only. They demand goods manufactured in other countries also. Commerce has so developed that the whole world has become one big market.
The dependence of the countries on one another for trade has brought in economic diplomacy. MNCs of developed countries are trying to enter under-developed countries and supply goods as per their need. Every country is trying to promote its trade so that it is able to share the benefits of development.
India was called a golden bird in ancient times because it had overall prosperity and foreign countries wanted to trade with it. They earned huge profits and transferred them to their countries. India became poor because its trade activities slowed down. So commerce is the yardstick to measure the level of development of a country.
Social changes in the country are also influenced by the development of commerce. Trade and allied activities directly or indirectly influence every human being. Goods are produced as per the need of the society. In order to, satisfy consumers’ needs, goods are increased the trade becomes manifold. People use those goods, which would not have been produced in their own countries.
The habits, living styles and behavior patterns of the people under gone changes because of commercial activity at a particular place. The quality of life has substantially improved in developing countries. The growth of commerce has certainly changed the life of the people. Commerce has transferred world into one market. Goods are produced at those places where these are economical.
Various countries have specialized in different goods and they are producing them not only for their own markets but also for the whole world. The development of commerce has also led to competitions. Every concern tries to capture market. This can be possible only when it provides good quality products at cheaper rates.
Author - DeeKay
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