Online Assignment

 CORRELATION OF COMMERCE EDUCATION WITH OTHER DISCIPLINES GEOGRAPHY, MATHEMATICS, ECONOMICS, MANAGEMENT, INTERNATIONAL RELATIONS, POLITICAL SCIENCE AND STATISTICS 

 Submitted by Vishnu Narayanan K G

 Option: Commerce

 CORRELATION OF COMMERCE WITH OTHER SUBJECTS

 The close linkage and correlation of Commerce with a number of subjects have been highlighted. It has been pointed out there that the scope of commerce is very vast and it includes all aspects of modern life. It involves a study of many related disciplines apart from its own specialised branches. At the same time the correlation of commerce with three subjects namely Economics , Geography and Mathematics are specially significant. 

 Commerce and Economics 

 Economics is divided into four parts namely, production exchange distribution and consumption. Of these sub-divisions of Economics , Commerce is connected with the whole of exchange and a part of production. Commerce includes all those activities that take place in the flow of goods between producers and consumers. In Economics this aspect is known as ‘Exchange’. The exchange part of economics is exclusively the contribution of commerce. Many specialised subdivisions of commerce provide us with the theoretical basis and practical suggestions helpful to facilitate the exchange of scientific behaviour. The good produced should reach the hands of consumers to satisfy their wants. For this , their possession and ownership must be transferred from the producers to the consumers. The commercial activities involved in this transfer include the activities of various middlemen involved in the exchange. These commercial activities complete the full cycle of economic activities. In short, we can say that “Economics is the mother of commerce”. As such studies in commerce have to make use of ideas from Economics. In turn, the modern developments in commerce helps to enrich the theory and practice of Economics

. Commerce and Geography

 Geography studies about the earth, and it’s climate soil , land scape etc. The producers and producing agricultural goods and minerals produce in tune with the climatic conditions of the region they inhabit. It is not possible to produce all the commodities necessary for human living at the same place. The raw materials required for any commercially significant commodity have to be collected from various places and made available in the centre of production. The availability of such materials is always based upon the geographical conditions. For example, a flood or a drought can fail even the functioning of a commercial endeavour. From these aspects it is clear that , there is a very close relationship between commerce and geography. 

 Commerce and Mathematics

 Commerce means all activities that takes place in the exchange of goods from the producer to the consumer. A business concern keenly observes these activities and records them in the book of accounts. A skilful accountant prepares in such a way as to show up all the deficiencies and strong points of the firm concerned. An accountant applies the fundamental arithmetical processes in preparing the accounts. Further in the field of sale tax , income tax etc. knowledge of mathematics is essential. Statistical techniques are profusely used for interpretation of data and for making predictions. All these make the relation between commerce and mathematics evident. Commerce and Statistics Management of a business these days is a very complex problem. Any wrong decisions in management can result in big financial loss. Statistics as a science has been doing innumerable services to the modern business world, commerce and industry. It is very difficult to imagine the business activities without the help of statistics. Some statistical techniques and designs have been developed recently, exclusively for business purposes. These include statistical quality control, the inventory control , input output analysis , market research, business forecast etc. These techniques and designs have revolutionised the business world. Statistical techniques have application also in evaluating the results of sales, precisely assessing the companies achievements, comparing the effectiveness of different modes of advertisement, analysing the influence of the seasonal variations etc. Moreover, statistics is used to estimate the influence the income and expenditure, prepare balance sheets analyse the trading activities in a share market. Moreover these days computer statistical analysis and research are applied in each and every aspect of production and distribution of goods. From the above discussion it is very clear that statistics and commerce are developing together hand in hand. 

 Commerce and International Relations

 International relations include a wide variety of relations. It embraces relations between countries, people ,cultures etc. It is a discipline which is concerned with is concerned with many factors and activities that affect the external policies and power of a nation. Commerce is an inevitable aspect in keeping the international relations non a better way. The availability of resources like minerals, water, labour, capital, technological capabilities, human resources etc in a country may help them to produce goods more efficiently. But all the countries in the world are not blessed with all such resources. What is feasible for a country in such a circumstance is to produce those goods for which they have more resources and export these to other countries. In return they can import those goods, in the case of which purchasing will be advantageous than producing. This is the basis of external trade. Many business organisations are engaged in external trade. This would promote healthy international relations between understanding. In our modern era the E-commerce helps to enhance cordial relations among the countries. This can be business to business (B2B) , Business to Consumer (B2C) and Consumer to Consumer (C2C) transaction, which would help to maintain unlimited relation among nations. Such relations among countries will help to enhance future business opportunities also. Commerce and Management The word management when used as collective noun, refers to all those who manage activities within an organisation. Management brings together all the factors of productions related to the endeavour and acts as a coordinating work force. In the words of John F Mee. “Management may be defined as the art of securing maximum results within a minimum of effort, so as to secure maximum prosperity and happiness for both employer and employee and give the public the best possible services”. Industry produces goods , which are meant for consumers. This means that the consumer must beneficially enjoy the fruits of production. All activities ensuring the free flow of goods and services form the producers to the final consumer is considered to be the elements of commerce. This include transportation, insurance, advertising, banking warehousing etc. Each of these elements demand effective management. The future of any business that involves production and sale of goods and services depends on the efficient management. So it may be said that there is an inseparable relation between commerce and management. References i. Wikipedia ii. “The Methodology of Teaching Commerce” by Prof. (Dr).K.Sivarajan Dr.Issac Paul & Dr.E.K.Lal