In this article we will discuss about the hire purchase system of selling. Prof. J. Stephenson defines 'hire-purchase' as a form of trade in which credit is granted to the customer on the security of a lien on the goods. To put in simple terms, under the hire-purchase system, a seller delivers the goods to the customer (hirer) who agrees [...]
This article will help you to learn about the difference between trade, commerce and industry. Difference Between Trade, Commerce and Industry Trade 1. Trade is that branch of commerce which deals with exchange or transfer of goods and services. 2. The origin and development of trade is the result of the prevalence of barter system. 3. It includes sale and [...]
After reading this article you will learn about:- 1. Meaning of Business 2. Definition of Business 3. Characteristics 4. Objectives. Meaning of Business: The word 'business' literally means 'a state of being busy'. Every person is engaged in some kind of occupation: a worker works in a factory, a teacher teaches in the class, a clerk does his office work [...]