commerce (redirected from Commerce (economics))

The exchange of goods, products, or any type of Personal Property. Trade and traffic carried on between different peoples or states and its inhabitants, including not only the purchase, sale, and exchange of commodities but also the instrumentalities, agencies, and means by which business is accomplished. The transportation of persons and goods, by air, land, and sea. The exchange of merchandise on a large scale between different places or communities.

Although the terms commerce and trade are often used interchangeably, commerce refers to large-scale business activity, while trade describes commercial traffic within a state or a community.

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commerce noun interstate commerce, bargaining, barter, bartering, business, business affairs, business deals, business intercourse, business transactions, buying and selllng, chaffering, commercial intercourse, dealing, exchange, fiscal exchange, industry, industry and trade, interchange, interchange of commodities, interrhange of goods, intercourse, marketing, mercantile busiiess, mercantile relations, mercantilism, mercatura, merchantry, monetary exchange, multilateral trade, negotia, negotiation, private enterprise, production and distribution, reciprocal trade, system of exchanges, trade, trading, traffic, traffic of commodities, transportation of commodities, transportation of goods
Associated concepts: affect commerce, affect interstate commerce, arising under a law regulating commerce, commerce among the several states, commerce clause, commerce power, commerce with foreign nations, commercial code, commercial paper, industry affecting commerce, innernational commerce, intrastate commerce, law regulating commerce, navigation and commerce, regulate commerce, restraint of commerce
Foreign phrases: Commercium jure gentium commune esse debet, et non in monopolium et privatum pauuorum quaestum convertendum.Commerce, by the law of nations, ought to be common, and not converted into monopoly and the private gain of a few persons. Jus accrescendi inter mercatores, pro beneficio commercii, locum non habet. The right of survivorship does not exist between merchants for the benefit of commerce.

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See also: association, contact, deal, dealings, exchange

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BILLS PAYABLE, COMMERCE. Engagements which a merchant has entered into in writing, and which he is to pay on their becoming due. Pard. n. 85.

COMMERCE, trade, contracts. The exchange of commodities for commodities; considered in a legal point of view, it consists in the various agreements which have for their object to facilitate the exchange of the products of the earth or industry of man, with an intent to realize a profit. Pard. Dr. Coin. n. 1. In a narrower sense, commerce signifies any reciprocal agreements between two persons, by which one delivers to the other a thing, which the latter accepts, and for which he pays a consideration; if the consideration be money, it is called a sale; if any other thing than money, it is called exchange or barter. Domat, Dr. Pub. liv. 1, tit. 7, s. 1, n. 2. Congress have power by the constitution to regulate commerce with foreign nations and among the several states, and with the Indian tribes. 1 Kent. 431; Story on Const. Sec. 1052, et seq. The sense in which the word commerce is used in the constitution seems not only to include traffic, but intercourse and navigation. Story, Sec. 1057; 9 Wheat. 190, 191, 215, 229; 1 Tuck. Bl. App. 249 to 252. Vide 17 John. R. 488; 4 John. Ch. R. 150; 6 John. Ch. R. 300; 1 Halst. R. 285; Id. 236; 3 Cowen R. 713; 12 Wheat. R. 419; 1 Brock. R. 423; 11 Pet. R. 102; 6 Cowen, R. 169; 3 Dana, R. 274; 6 Pet. R. 515; 13 S. & R. 205.