Commercial activities are strictly confined to the direct purchase and sale of tangible goods, excluding support services like warehousing and insurance.
Answer: Answer
Answer
False
The statement is false because commerce is not limited to buying and selling physical goods; it broadly incorporates all auxiliary functions—including warehousing, transport, insurance, and banking—that ensure goods and services move efficiently from producers to ultimate consumers.
Step-by-Step Solution
Key Concept
Scope of Commerce (Trade vs. Auxiliaries to Trade)