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History and Evolution of Commerce, 1, 2, 3, 4 - Coggle Diagram
History and Evolution of Commerce
30 B.C.:The Silk Road
First used by Han dynasty in China to officially open foreign trade between Europe and Far East
0:Markets
More evidence of rapid spread of markets eg- Trajan's Market in ancient rome
1000-500 B.C.
Coins were created from electrum- a naturally occurring alloy of gold and silver - stamped with images of gods and emperors
800:Paper Currency
Paper currency was first used by Chinese during Tang Dynasty
1200 B.C.
Cowrie shells made a good form of currency
1400s:European exploration
Discovery of sea route connecting east and west by sea for trade purpose
10,000-5000B.C.:Cattle Trade
Cattles were the first medium of exchange
In 1776 new development took place in America through Adam Smith's 'wealth of nation'
1821:Gold standard coins - England officially adopted gold standard in 1821
1600s: The formation of East India company for Indian spice trade
Rapid growth of commercial education institutions was observed during 1920 -1940
Indian institute of chartered accountants in 1934
1944- Institute of work and cost accountants
Indian institute of bankers was established in 1926
1955- Federation of Insurance institute
Great demand for office workers- Generate the need for commercial subjects
In 1920 first Fiscal Commission was setup: Made major improvements in industrial fields
At graduate level commerce education was introduced in 1913 in Bombay
In 10+ 2+ 3+ pattern of education sufficient attention has been paid to commerce education in Indian schools
At collegiate level , the presidency college Calcutta started commerce started in 1903
The teaching of commerce subjects starts from 11th class and in class 12th the syllabus is quite advanced
Formal education in India started in 1886 at Madras in commercial school
Beginning of eCommerce
1995: Amazon and eBay launched their sites, changing online buying forever
2000s: Ecommerce growth-evolution online payment like the launch of PayPal in 1998
1960s-1990s-Electronic Data Interchange-enabled the digital transfer of data which paved the way for eCommerce
Present day more option than ever: Digital money,UPI,startup ecosystem,software in accounting and many more eCommerce websites
E-commerce experience born with the internet. Back in 1982 the world first e-commerce company open
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