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BUSINESS, TRADE AND COMMERCE 15 services. Thus, all activities involvinga large scale and it is difficult for the removal of hindrances in the producers to themselves reach out process of exchange are included in to individual buyers for selling their commerce. The hindrances may be in products. Businessmen are engaged respect of persons, place, time, risk, in trading activities to make the goods finance, etc. The hindrance of persons available to consumers in different is removed by trade, thereby, making markets. In the absence of trade, it goods available to consumers from the would not be possible to undertake possession or ownership producers. production activities on a large scale. Transport removes the hindrances of Activities which are meant for place by moving goods from the place assistingtradeareknownasauxiliaries of production to the markets for sale. to trade. These activities are generally Storage and warehousing activities referred to as services because these remove the hindrance of time by are in the nature of facilitating the facilitating holding of stocks of goods activities relating to industry and to be sold as and when required. trade. Transport, banking, insurance, Goods held in stock, as well as, goods warehousing, and advertising are in course of transport are subject regarded as auxiliaries to trade, i.e., to a risk of loss or damage due to activities playing a supportive role. theft, fire, accidents, etc. Protection In fact, these activities support not against these risks is provided by only trade, but also industry and, insurance of goods. Capital required hence, the entire business activity. to undertake the above activities is provided by banking and financing Auxiliaries are an integral part of commerce in particular and business institutions. Advertising makes it activity in general. These activities possible for producers and traders to help in removing various hindrances inform consumers about the goods which arise in connection with the and services available in the market. Hence, commerce is said to consist of production and distribution of goods. Transport facilitates movement of activities of removing the hindrances ofgoods from one place to another. persons, place, time, risk, finance and Banking provides financial assistance information in the process of exchange to the manufacturer and trader. of goods and services. Insurance covers various kinds of business risks. Warehousing creates 1.3.3 Trade and Auxiliaries to Trade time utility by way of storage facilities. Trade is an essential part of commerce. Advertising provides information to It refers to sale, transfer or exchange the consumers. In other words, these of goods either physical or virtual. It activities facilitate movement, storage, helps in making the goods produced financing, risk coverage and sales available to the consumers or users. promotion of goods. Auxiliaries to These days’ goods are produced on trade are briefly discussed below: Reprint 2026-27