5 Difference between in commercial activities and economic activities
Answers
Answer:
The following are the differences between economic and commercial activities:
· Economics is a broader study about how individuals, businesses and societies use the resources, whereas Commerce involves the study of goods sold by producers to the consumers.
· Economics goes on to study the impact of businesses, government legislation, banks etc., as opposed to Commerce, which doesn’t have a wide area of study.
· Commerce detains its scope to business, whereas economics explores not only the business but also pubic policies and division of labour.
· Economics has a broad number of fields and areas to specialize in compared to commerce.
· Commerce examines trade and exchange, while economics examines this and extends its study to production and consumption.
Explanation: