Question

Business includes:
(a) Industry
(b) Trade
(c) Commerce
(d) Industry, Trade and Commerce.

Answer 1

Answer:

(d) Industry, Trade and Commerce.

Explanation:

Business includes all the three components as Industry, Trade and Commerce. There is an inter-relationship between them -

An industry is concerned with the processing of materials and the production of goods, whereas the distribution of such materials and goods is concerned with the trade, that facilitates in exchange. Trading is the buying and selling practice of the goods. Trading also involves the import and export of goods which is also referred to as international trade.

Answer 2

Business includes (d) Industry, Trade, and Commerce.

About Business:

• Business is the action of earning a livelihood or earning money by manufacturing, purchasing, and selling goods.
• It is also "any profit-making activity or enterprise."
• The primary goal of business terminology is to define critical business information utilized in day-to-day company operations and analysis.
• Business words also aid in the comprehension of information utilized by IT assets by enabling traceability between business terms and IT assets.

Trade:

• The movement of commodities and services from one person or entity to another, frequently in return for money, is referred to as a trade.
• Economists define a market as a structure or network that permits commerce.

Industry:

• An industry is a branch of an economy that generates a closely connected set of raw materials, commodities, or services, according to macroeconomics.
• For example, the timber business or the insurance sector may be mentioned.

Commerce:

• Commerce is defined as the study of commercial and trade activities such as the exchange of products and services from the producer to the end client.
• B2C (Business-to-Consumer), B2B (Business-to-Business), C2B (Consumer-to-Business), and C2C (Consumer-to-Consumer) are the four classic categories of e-commerce (Consumer-to-Consumer).
• B2G (Business-to-Government) is another term that is frequently used interchangeably with B2B.

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