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It introduces how goods and services satisfy human needs through production, industry, trade, and commerce. The text outlines the learning objectives, discusses business and commerce as major economic activities, and describes early trading routes such as land and maritime networks. It also covers Hundi as a credit instrument supporting safe transfer of money and promoting trade.",{"@graph":69,"@context":123},[70,84,106],{"@type":71,"itemListElement":72},"BreadcrumbList",[73,77,79,82],{"item":74,"name":75,"@type":76,"position":8},"https://docshare.wps.com","Home","ListItem",{"item":78,"name":9,"@type":76,"position":14},"https://docshare.wps.com/document/",{"item":80,"name":20,"@type":76,"position":81},"https://docshare.wps.com/document/exam/",3,{"item":83,"name":65,"@type":76,"position":19},"https://docshare.wps.com/document/businesstrade-and-commerce-chapter-1-learning-objectives-and-introduction/289019/",{"url":83,"name":65,"@type":85,"image":86,"author":91,"headline":65,"publisher":94,"fileFormat":97,"inLanguage":63,"description":67,"dateModified":98,"datePublished":99,"encodingFormat":97,"isAccessibleForFree":100,"interactionStatistic":101},"DigitalDocument",{"url":87,"@type":88,"width":89,"height":90},"https://docshare.wps.com/thumbnails/businesstrade-and-commerce-chapter-1-learning-objectives-and-introduction/289019.png","ImageObject",300,407,{"name":92,"@type":93},"4398046744996","Person",{"url":74,"name":95,"@type":96},"DocShare","Organization","application/pdf","2026-10-30","2026-09-17",true,{"@type":102,"interactionType":103,"userInteractionCount":105},"InteractionCounter",{"@type":104},"ViewAction",11,{"@type":107,"mainEntity":108},"FAQPage",[109,115,119],{"name":110,"@type":111,"acceptedAnswer":112},"What is the purpose of business according to this chapter?","Question",{"text":113,"@type":114},"Business is presented as a major economic activity concerned with production and sale of goods and services required by people, and it becomes important to understand its concept, nature, and purpose.","Answer",{"name":116,"@type":111,"acceptedAnswer":117},"How do people obtain goods and services in the market?",{"text":118,"@type":114},"People buy goods and services by going to a market, either physically or electronically over the internet, where they find different shops and sellers and choose what they require.",{"name":120,"@type":111,"acceptedAnswer":121},"Why was an intangible form of exchange of money needed for long-distance trade?",{"text":122,"@type":114},"Because travelling long distances by land or sea involved risk of theft and robbery; instruments like Hundi helped in safe transfer of money between parties.","https://schema.org",{"og:url":83,"og:type":125,"og:title":65,"og:site_name":95,"og:description":67},"article",{"robots":127,"canonical":83},"index,follow",{"doc_id":129,"site_id":62},289019,1791124448,{"code":4,"msg":5,"data":132},{"doc_id":129,"user_id":133,"nickname":92,"user_avatar":66,"doc_module":4,"category_id":19,"category_name":20,"doc_title":65,"doc_description":67,"doc_content":134,"file_id":135,"file_url":136,"file_type":137,"file_size":138,"view_count":105,"is_deleted":4,"is_public":8,"is_downloadable":8,"audit_status":8,"page_count":139,"language":140,"language_code":63,"site_id":62,"html_lang":63,"table_of_contents":141,"faqs":142,"seo_title":143,"seo_description":67,"update_tm":144,"read_time":145},4398046744996,"| PART I   |\n| --- |\n| Foundations of Business   |\n\nReprint 2026-27  \n11108CH01  \nCHAPTER 1  \nBUSINESS,TRADE AND COMMERCE  \n\n| LEARNING OBJECTIVES  \u003Cbr>After studying this chapter,the learner:  \u003Cbr>i.Appreciates the contribution of business activities in the growth and  \u003Cbr>development of an economy;  \u003Cbr>ii.Discusses the concept and objectives of business;  \u003Cbr>ii.Categorises business activities into occupation,profession,and  \u003Cbr>employment  \u003Cbr>iv.Classifies industry in different types;  \u003Cbr>v.  Explains Risk and Profit as a reward of Risk;and  \u003Cbr>vi.Enumerates factors for starting a business.   |\n| --- |\n\nReprint 2026-27  \nImran,Manpreet,Joseph and Priyanka have been classmates in Class X.Aftertheir exams are over,they happen to meet at a common friend Ruchita's house.Just when they were sharing their experiences of examination days,Ruchika'sfather Raghuraj Chaudhary intervenes and asks about their well-being.He alsoenquires about their career plans.But none of them had a definite reply.Raghurajwho himself is a successful businessman tells them about business as a careeropportunity.Joseph gets excited by the idea and says “yes,business is really goodfor making lots of money”.Raghuraj tells them that there is a lot more to businessthan merely money'.Business activities lead to growth and development of anycountry,he added.He further tells them that the roots of business activities can betraced back to ancient times and how trading helps in the prosperity of the Indiansubcontinent.Priyanka said that they have read about the Silk Route in their historytextbooks.Raghuraj then gets busy with his day-to-day tasks.However,the fourclassmates begin raising questions.The conversation of the four classmates focusedon how trading activities were conducted during ancient times.How far can theroots of trading activities be traced?Why was the Indian subcontinent referred toas 'Swaran Bharat and Swaran Dweep'by the then travellers to India?What madeColumbus and Vasco da Gama undertake journeys to locate India?They decidedto meet the commerce teacher of their school to find out answers to many suchquestions about the development,nature and purpose of business.  \ndistribution and exchange so that theneeds and wants of customers aresatisfied.Business is amajor economicactivity which is concerned with theproduction and sale of goods andservices required by people.Businessis central to our lives.Although ourlives are also influenced by many otherinstitutions in modern society,such asschools,colleges,hospitals,politicalparties and religious bodies;businesshas a major influence on our dailylives.It,therefore,becomes importantthat we understand the concept,nature and purpose of business.  \n# 1.1 INTRODUCTION\n\nAll human beings,wherever they maybe,require different types of goodsand services to satisfy their needs.If we look around,we observe peoplerequire different types of productsand services to satisfy their needsHow do they buy them?They go to themarket,either physical or electronicover internet,where they find variety ofshops and sellers offering the requiredcommodities and choose the bestwhich they require.  \nHave you ever wondered how dothese products and services are madeavailable in the market?The necessityof supplying goods and services isdone by different set of people engagedin various economic activities such  \nBusiness starts with productionand ends with consumption.Making thefinished products reach the consumerinvolves a series of steps.The work of  \nas production,manufacturing and production of goods is covered under  \nIndustry and the remaining activities The goods were traded both  \nbelong to commerce.In a nutshell we internally and to the foreign lands,  \ncall them 'Business'which is a wider which generated surplus income.As  \nterm and includes Industry,trade and a result,the people were engaged  \nin various economic activities suchas agriculture and domesticationof animals,weaving cotton,dyeingfabrics,making clay pots,utensils","cbCaid5VtRlfNgta","https://ap.wps.com/l/cbCaid5VtRlfNgta","pdf",1968175,25,"English","# 1.1 INTRODUCTION\n## 1.1.1 Role of Business in the Development of Economy","[{\"question\":\"What is the purpose of business according to this chapter?\",\"answer\":\"Business is presented as a major economic activity concerned with production and sale of goods and services required by people, and it becomes important to understand its concept, nature, and purpose.\"},{\"question\":\"How do people obtain goods and services in the market?\",\"answer\":\"People buy goods and services by going to a market, either physically or electronically over the internet, where they find different shops and sellers and choose what they require.\"},{\"question\":\"Why was an intangible form of exchange of money needed for long-distance trade?\",\"answer\":\"Because travelling long distances by land or sea involved risk of theft and robbery; instruments like Hundi helped in safe transfer of money between parties.\"}]","BUSINESS,TRADE AND COMMERCE - Chapter 1 - Learning Objectives and Introduction | PDF",1789634400,63]