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- Commerce plays a number of roles in the economy and society123. These roles include:
- Driving economic growth, development and prosperity
- Promoting regional and international interdependence
- Fostering cultural exchange
- Creating jobs
- Improving people's standard of living by giving them access to a wider variety of goods and services
- Encouraging innovation and competition for better products
- Regulating the supply and demand of a product or an industry
- Linking producers to traders and consumers
- Ensuring the proper living standards of citizens of a place
Learn more:✕This summary was generated using AI based on multiple online sources. To view the original source information, use the "Learn more" links.Commerce drives economic growth, development and prosperity, promotes regional and international interdependence, fosters cultural exchange, creates jobs, improves people's standard of living by giving them access to a wider variety of goods and services, and encourages innovation and competition for better products.en.wikipedia.org/wiki/CommerceCommerce is not synonymous with business but is a subset of it. Commerce does not relate to the sourcing, manufacturing, or production processes but only to the distribution of goods and services. That alone encompasses a number of roles, such as logistical, political, regulatory, legal, social, and economic.www.investopedia.com/terms/c/commerce.aspCommerce is important for maintaining the flow of commercial goods and products in and out of a country. It regulates the supply and demand of a product or an industry. Commerce is what links producers to traders and consumers. It also ensures the proper living standards of citizens of a place.www.wallstreetmojo.com/commerce/ - People also ask
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