classify industry and commerce in different activities undertaken in a business concern
Answers
Answer:
INDUSTRY: Industry refers to those economic activities which are connected with the conversation of resources into useful goods and materials.
Classification: It can be divided into 3 board categories:
a) Primary industry (classification of primary- Extractive and Genetic)
b) Secondary industry (classification of secondary- Manufacturing and construction)
c) Tertiary industry.
COMMERCE: Commerce provides the necessary link between the producers and the consumers. It provides all those activities which are essential to maintain the free-flow of goods and services.
Classification: Commercial activities include mainly of 2 types of activities:
a) Trade: (classification of trade- Home trade and foreign trade).
b) Auxiliary to trade ( means aid to trade) .
Explanation:
The source is from text book so it is the right answer. But i am answering briefly.
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