Commerce can be defined as trade between states or nations. It has been taking place since the ancient times and has allowed for the exchange of needed or desired goods and services between different groups of people. With advances in manufacturing, transportation and communication, commerce has continued to flourish. The increasing complexity, diversity and expansion of trade and commerce in various economies, re-establish the importance of commerce discipline.

From a multinational trading company to a bank to a chartered accountant, the basic background required would be in the field of commerce. Knowledge in the area of commerce helps both at micro decision making for an organization and macro level- international trade and commerce.