ENTREPRENEURSHIP

Detailed explanation-1: -Commerce is an exchange between two parties of goods or services for money. The word often implies large-scale transactions.

Detailed explanation-2: -In its simplest form, bartering is the exchange of one valuable product for another between two individuals. Person A has two chickens but wants to get some apples; meanwhile, Person B has a bushel of apples but wants some chickens.

Detailed explanation-3: -The objective of a marketing exchange is to receive something that is desired more than what is given up to get it. In other words, it involves a reward in excess of costs. Fourth, the parties involved in the exchange must be able to communicate with each other in order to make their something of value available.

Detailed explanation-4: -A marketing exchange is what happens any time two or more people trade goods or services. In marketing theory, every exchange is supposed to produce “utility, ‘’ which means the value of what you trade is less than the value of what you receive from the trade.