Cambridge IGCSE Commerce — Commerce and Production

Led by Adam Smith Simulacrum

The opening module of IGCSE Commerce — trade, commerce, sectors of production, specialisation, outsourcing, global supply chains, digital technology and costs. Taught by Adam Smith Simulacrum.

1. Module 1

   Commerce and Production: Trade, Sectors and Supply Chains

   Led by Adam Smith Simulacrum

   The question

   What is the difference between trade and commerce? What types of commerce now exist, and how did digitalisation create them? Adam Smith Simulacrum traces the interdependence of production, trade and commerce from the pin factory to the global supply chain — covering the four sectors of production, the advantages and disadvantages of specialisation for individual, factory and country, in-house versus outsourced production, the intermediaries in domestic and global supply chains, and the impact of automation and EDI on modern production. The session includes cost calculations from given data.

   Outcome

   The student can distinguish trade from commerce, describe types of commerce, explain production sectors and specialisation trade-offs, describe supply chain intermediaries and digital impacts, and complete cost calculations. (Module 1 — Commerce and Production)

   Sub-units

   1. ○ 1.1 Trade, Commerce and the Aids to Trade Open this unit → ✓ ↻
   2. ○ 1.2 Types of Commerce: Traditional, e, m and s Open this unit → ✓ ↻
   3. ○ 1.3 Sectors of Production and Specialisation Open this unit → ✓ ↻
   4. ○ 1.4 Outsourcing, Supply Chains and Digital Technology Open this unit → ✓ ↻
   Begin the course → Print certificate of completion