Differentiate between a merger and an acquisition.
Explain five ways commerce is important in the life of a nation
Explanation
A merger is the coming together of two or more companies in a way that all merging companies will close and a new company formed while an acquisition is the process of buying another company in which the company bought stops to exist and the company that purchased it becomes bigger and continues to exist.
i) Commerce promotes rapid transfer of both oral and written messages through territory
ii) Commerce facilitates exchange of goods and services which people enjoy whether produced within or outside their territory
(iii) Commerce facilitates the creation of wealth thereby improving the standards of living in a nation
iv) Commerce makes room for protection against risks in day to day business operations through insurance.
(v)Commerce creates awareness of the existence of goods and services through advertising goods and services through advertising
(vi) Commerce ensures that goods produced are stored until needed, thus making sure that there is steady supply of goods for the nation through warehousing
(vii) Commerce makes it possible for people and s access to funds through their operations of financial institutions.
(viii) Commerce offers employment opportunities there long number of people in a nation.
(IX) Commerce encourages international trade and co-operation, as a result, enhance friendly relations among countries
(x)Commerce brings technological innovation and new ideas, resulting in market development
(xi) Commerce assists in the movement of materials/goods and people from one place to another