Commercial sector Meaning: Definition, Examples, and Translations
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commercial sector
[ˈkɒməʃəl ˈsɛktər ]
Definition
Context #1 | Noun
business
The commercial sector refers to the part of the economy that is made up of businesses and industries that are engaged in the buying and selling of goods and services for profit.
Examples of usage
- The commercial sector includes retail stores, restaurants, banks, and manufacturing companies.
- Many people work in the commercial sector, contributing to economic growth.
- In the commercial sector, competition is fierce as companies strive to attract customers and make profits.
Translations
To see the translation, please select a language from the options available.
Interesting Facts
Economic Impact
- The commercial sector is a major driver of economic growth, contributing significantly to GDP in many countries.
- Employment in the commercial sector encompasses a wide range of jobs, from retail to sales to management roles.
- Innovation often stems from the commercial sector as businesses strive to create better products and services.
Pop Culture
- Television ads often highlight products in the commercial sector, influencing consumer choices and trends.
- Movies frequently depict characters working in various parts of the commercial sector, showcasing its impact on everyday lives.
- Popular reality shows often focus on entrepreneurs trying to succeed within the commercial sector.
Historical Development
- The rise of the commercial sector began in earnest during the Industrial Revolution, with the birth of mass production.
- Trade routes in ancient civilizations laid the groundwork for modern commercial activities, facilitating exchange and commerce.
- The establishment of stock exchanges in the 17th century marked a significant advancement in the commercial sector's growth.
Technology
- E-commerce has revolutionized the commercial sector, allowing companies to sell products online, expanding their reach globally.
- Digital marketing techniques have transformed how businesses connect with customers, making the sector more competitive.
- Advancements in logistics technology have streamlined supply chains, significantly improving efficiency in the sector.
Origin of 'commercial sector'
Main points about word origin
- The word 'commercial' comes from the Latin 'commercialis', meaning 'to trade'.
- The root 'commercium' in Latin refers to 'trade' or 'business transactions'.
- The term has been in use since the late 15th century, primarily relating to trade activities.
The term 'commercial sector' originated from the Latin word 'commercium' which means 'trade' or 'commerce'. Throughout history, the commercial sector has played a crucial role in the growth and development of economies around the world. With the rise of capitalism, the commercial sector became a dominant force in shaping modern economies and societies.