Question

How can commerce help revive a city? Use the word ECONOMY in your answer.

Answer 1

Commerce revitalizes a city's economy through economies of scale, improving productivity and efficiency, creating jobs, and attracting consumers which result in a thriving urban economy.

Step-by-step explanation:

Commerce can help revive a city by injecting life into its economy. It operates on the principle of economies of scale, where the concentration of businesses offers efficiencies and cost savings, which in turn attracts more consumers. A vibrant commerce sector provides employment opportunities, drives innovation, supports local supply chains, and increases the tax base which can be used to invest in infrastructure and services, enhancing the city's appeal for residents and new businesses alike.

Cities exemplify economies of scale as they concentrate economic activity, leading to greater productivity. Businesses benefit from having access to a large pool of customers, enabling them to operate at a more efficient level. Additionally, the concentration of workers and suppliers makes hiring and sourcing specialized inputs easier. These factors contribute to a diverse range of products and services, further stimulating the urban economy.

Answer 2

Commerce can be defined as buying and and selling and exchanging of goods and service or it is the study of buying of goods and service