Commerce Is A System Or An Environment That Affects The Business Prospects Of Economics

A barter system is where you take a item and another item and trade them and, sometimes you throw in cash

Consumerism leads to self-gratification and the loss of life’s important values such as friendship, love and religion; this is an ever-growing issue that manipulates and deceives society and has done so since the beginning of the technological age.

Commerce is defined as commercial activity including transportation, traffic, trade and transmissions of such things as electricity, telephones, radios, faxes and

*Question 11. 11. (TCO 4) Consumers have needs for living and wants, which are desires and to know them helps businesses to meet market demands. From the following list, identify which combination is just needs, or just wants. (Points : 5)

The economy is the system of how money is made and used within a particular country or region.

The early modern world was impacted with a lot of change. From agriculture beginnings and producing only what was needed to survive within communities, the world had changes that would transform the world’s economy forever. Changes started to occur in the European states, England in particular, the Atlantic economies and South Asia (India). The new found ways to enlarge these power hungry countries became their priority. This helped emerge new ideas and concepts that define our economy today. International trade and exchange of goods between countries had a great impact then as it does now. Countries depend on these ideas in order to be wealthier and powerful. There were a lot of problems that occurred about commerce when it was carried out by certain countries like slavery, and overly dominant empires. There were also many political and religious groups that supported these methods of commerce, since they were beneficial for them. The realities of commerce in

think the consumers want (or what they think they can tell them they want), to

Hunger for luxury items and people’s strife for the brands and items they associate with being beyond reach is paramount for this system. It is this drive for items one can’t have that the author feels is one of the benefits of consumerism. He declares, “…the aspiration of the poor to

When a consumer walks into a store, they know what products they want to buy, whether it be an item that is a needed or a product that is just a want. If

- the activity for creating, communicating, delivering, and exchanging offerings that benefit its customers, the organization, its stakeholders, and society at large.

With the barter system, it took longer for you to get what you wanted because of the trades you would have to make and with the money you have direct access to the goods or service that you desire. The Bible says, “For the love of money is the root of all kinds of evil,” (1 Tim.6:10 NLT). This speaks to the love of money and not money itself. This is for the people who cannot balance money and the world. The feeling of being powerful because of the amount of money they have, will sometimes lead to them taking advantage of certain situations or

What is business? Business is an organization or economic system where goods and services are exchanged for one or another or for money. Every business required some form of investment and enough customers to whom its output can be sold on a consistent basis in order to make a profit. Business can be privately owned, not-for-profit or state owned.

Electronic commerce has been there for a long time now, and it is a practice that is practiced by peoples from Germany, France, and the US on a daily basis. Since its inception around 40 years ago, e-commerce has continued to grow as innovations, technologies and a lot of business reverting to the use of the e-commerce. The aspect of buying and selling of goods in the early 1960s was sluggish with the traditional way of mailing of documents being replaced with the Electronic Data Interchange (EDI), which would later pave a way to the electronic commerce. After the e-commerce, however, the practice was not more reliable as it still had many challenges (Tsolis, 2009). For instance, it was not easy for buyers to see products from the comfort of their homes and more so, the methods of accessing the information were limited.

Consumerism is a description of society’s lifestyle in which many people embrace to achieve their goals by acquiring goods that they clearly do not need (Stearns, 7). The idea that the market is shaped by the choice of the consumers’ needs and wants can be defined as a consumer sovereignty (Goodwin, Nelson, Ackerman, Weisskopf, 2). This belief is based on the assumption that the consumer knows what it wants. Contrary to this logic, marketers convince us that the consumer does not know what they want. The consumer has to be told what they want or be persuaded by advertising items in a matter that demonstrates the reason a product makes their life easier or will improve their life instantly. As one of the most successful entrepreneurs,

Once there is the decision to consume or purchase good s or services the common factor then becomes the need for that product which is at times evaluated based on attainability and price. In many situations if consumers are not motivated by the need to purchase then the possibility lies that they will not purchase. There may be different justifications that consumers internalize when making the decision to purchase a particular product at its given price. Different decisions supports the need to purchase a product such as