GENERAL KNOWLEDGE

Detailed explanation-1: -Bartering occurs when two or more parties, such as individuals, businesses and nations, exchange goods or services evenly without the use of a monetary medium.

Detailed explanation-2: -Commerce is defined as the exchange of goods and services between two or more entities. It typically involves buying and selling things of value. Commerce can take place between businesses, between consumers, or between businesses and consumers.

Detailed explanation-3: -A market is a place where buyers and sellers can meet to facilitate the exchange or transaction of goods and services. Markets can be physical like a retail outlet, or virtual like an e-retailer. Other examples include illegal markets, auction markets, and financial markets.

Detailed explanation-4: -market, a means by which the exchange of goods and services takes place as a result of buyers and sellers being in contact with one another, either directly or through mediating agents or institutions.