Everything about commercialize

Summary

Commerce is the organized system of activities, functions, procedures and institutions that directly or indirectly contribute to the smooth, unhindered exchange of goods, services, and other things of value at the right time, place, quantity, quality and price through various channels among the original producers and the final consumers within local, regional, national or international economies. The diversity in the distribution of natural resources, differences of human needs and wants, and division of labour along with comparative advantage are the principal factors that give rise to commercial exchanges. Commerce consists of trade and aids to trade taking place along the entire supply chain. Trade is the exchange of goods and services between buyers and sellers in return for an agreed-upon price at traditional marketplaces. It is categorized into domestic trade, including retail and wholesale as well as local, regional, inter-regional and international/foreign trade.

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• To apply business methodology to something in order to profit
• To exploit something for maximum financial gain, sometimes by sacrificing quality

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Low commercialization of research

World Bank senior economist Smita Kuriakose said the lack of research products commercialization by research institutions and low adoption of technology would lead to lower productivity of firms in Malaysia

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