commercial

fishing industry

Taking, processing, and marketing of fish and other seafood from oceans, rivers, and lakes. Fishing is one of the primary forms of food production; it ranks with farming and probably predates it. The fishing industry employs more than 5 million people worldwide. The major countries engaged in marine fishing are Japan, China, the U.S., Chile, Peru, India, South Korea, Thailand, and the countries of northern Europe. The aquatic life harvested includes both marine and freshwater species of fish, shellfish, mammals, and seaweed. They are processed into food for human consumption, animal feeds, fertilizers, and ingredients for use in other commercial commodities.

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Bank that makes loans to businesses, consumers, and nonbusiness institutions. Early commercial banks were limited to accepting deposits of money or valuables for safekeeping and verifying coinage or exchanging one jurisdiction's coins for another's. By the 17th century most of the essentials of modern banking, including foreign exchange, the payment of interest, and the granting of loans, were in place. It became common for individuals and firms to exchange funds through bankers with a written draft, the precursor to the modern check. Because a commercial bank is required to hold only a fraction of its deposits as cash reserves, it can use some of the money deposited by its customers to extend loans. Commercial banks also offer a range of other services, including savings accounts, safe-deposit boxes, and trust services. Seealso bank; central bank; investment bank; savings bank.

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