GENERAL KNOWLEDGE

Detailed explanation-1: -In marketing, the act of obtaining a desired object from someone by offering something of value in return is called the exchange process. The exchange involves: the customer (or buyer): a person or organization with a want or need who is willing to give money or some other personal resource to address this need.

Detailed explanation-2: -Barter is an act of trading goods or services between two or more parties without the use of money-or a monetary medium, such as a credit card. In essence, bartering involves the provision of one good or service by one party in return for another good or service from another party.

Detailed explanation-3: -Pricing is a process of fixing the value that a manufacturer will receive in the exchange of services and goods.

Detailed explanation-4: -Defining commerce 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-5: -Trade is the activity of buying, selling, or exchanging goods or services between people, companies, or countries. [business]