This document summarizes the evolution and growth of commerce through 8 key stages: 1. Hunting and fishing stage - Earliest stage where people lived nomadically hunting and gathering food. 2. Pastoral stage - People began domesticating animals and rearing cattle, sheep and goats while still moving in search of grasslands. 3. Agricultural stage - People began growing crops and living in fixed communities, marking the start of basic commercial activities and division of labor. 4. Handicraft stage - Craftsmen like carpenters and blacksmiths emerged to fulfill tool and housing requirements, growing specialized professions. 5. Barter system stage - Barter of goods and

1. COMPONENTS OF
BUSINESS STUDIES
Prepared by ,
Maria D’souza
1st B.Ed
Reg No:ED1906327
JSS Institution Of Education
Sakleshpur

2. BUSINESS

3. BUSINESS
The term business is derived from the word “Busy”. Thus
the business means being busy .All of us need food, clothing ,shelter
.we also have many other household requirements to be satisfied in our
daily life .
We meet many of these requirements from the shopkeeper,
shopkeeper will get this from the wholesaler . Wholesaler gets this from
the manufacturer .The shopkeeper , the wholesaler ,the manufacturer
all are include in the activity called business therefore they are called
as businessmen.

4. MeANING
Business is an important activity mainly concerned with the
help of production and distribution and services to the consumers .
A business is an a organization or an enterprising entity
engaged in commercial, industrial or professional activity .A business
can be for profit earning entity or a non profit organization that
operates to fulfill a charitable mission .
Business is an economic activity, which is related with
continuous and regular production and distribution of goods and
services for satisfying human wants.

5. Evolution and growth of commerce
All the economic activities of human being are considered as
‘commerce’. It includes production ,business, industry, banking , insurance,
and other services which facilitate the exchange of goods and services
The evolution that has taken place in the field of commerce are
called as ‘Evolution of commerce’ or History of commerce’. Commerce is the
part of business which is concerned with the distribution of goods and
services .
Evolution of commerce has crossed over several stages to Achieve
today’s position .

6. The important stages are :
1.Hunting and fishing stage
2. Pastoral stage
3. Agricultural stage
4. Handicraft stage
5. Barter system stage
6. Money economy stage
7. Town economy stage
8. International trade stage

7. 1. HUNTING AND FISHING STAGE
It was the earliest stage of human
civilization . During this stage man was
a wanderer .There was no fixed place
for him ,he moved in groups from one
place to another in search of food
.They hunted animals for foods and
fishing also carried out by them . They
gathered fruits ,roots and nuts for food
They lived in caves or hollows of trees
They covered their bodies with skin of
the animals to protect from sun ,wind
and rain .

8. 2. Pastoral stage
During this stage people
learnt domestication of animals .In
the beginning cattle, sheep, goats
were reared . These animals were
provided food to et and skins to
cover their bodies . They moved
from one place to another in
search of grasslands .Though man
had reached some higher level in
development ,commerce did not
exist .

9. 3.Agricultural stage
After several years of
pastoral stage people
learnt the art of growing
some crops .They started
living at a fixed place .They
lived in groups .
Commercial activities are
started . The village and
communities came into
existence. Simple form of
division of labour was
started .

10. 4. HANDICRAFT STAGE
The agriculturists wanted
some tools or implements
to fulfill their requirements
some people engaged
themselves in making tools
and to construct the houses.
They were called craftsmen
Gradually a body of these
professional craftsmen such
as carpenters,blacksmith,
weavers,builders came into
existence .

11. 5. Barter system stage
Barter System involves
exchange of goods and services
for other goods and services.
This marked the beginning of
the true form of business
activities. The barter economy
laid foundation for increase in
the other commercial activities
like trading, division of labour,
employment of slaves to get the
work done etc.

12. 6.Money economy stage
The drawbacks of the Barter
Economy led to the emergence of the
introduction of money as a common
medium of exchange and settlement of
transactions. At first, animal skins, furs,
shells etc. were used as money and later
metal was used as a medium of exchange.
Still later various metals were converted
into coins of definite size and weight.

13. 7. Town economy stage
The development of a
common medium of exchange led
to the increase in the trading
activities. Specialized activities
were carried on by groups of
individuals on a locality basis. This
led to the growth of towns and
cities. Trade began between
traders of different towns and
cities.

14. 8. INTERNATIONAL TRADE STAGE
The traders could not
only trade within the boundaries
of their countries but also
beyond. With the discovery of
the Cape of Good Hope route by
Vasco da Gama, discovery of
America, and circum navigation
by Magellan goods were now
produced to be sold in foreign
markets.
Specialized institutions like
banks, transport organizations,
insurance agencies, and
warehouses helped in the
development of international as
well as domestic trade.

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