Question

difference between industries commerce trade​

Answer 1

Trade: It involves transfer or exchange of products distributed by commerce. Industry: Requires huge amount of capital to establish industry. Commerce: Requires less amount of capital than industry but larger amount than trade to operate its activities. Trade: Requires less capital than industry and commerce.

Answer 2

Answer:

Explanation:

1)MEANING: Industry- Extraction,reproduction,conversion,processing and

construction of useful products.

Commerce- Activities involving distribution of goods and services.

Trade - Purchase and sale of goods and services.

2)SCOPE: Industry- Consists of all activities involving conversion of materials

and semi-finished products into finished products.

Commerce- Comprises trade and auxiliaries to trade.

Trade - Comprises exchange of goods and services.

3)CAPITAL: Industry- Generally large amount of capital is required.

Commerce- Need for capital is comparatively less.

Trade - Capital is needed to maintain stock and grant credit.

4)RISK : Industry- Risk involved is usually high.

Commerce- Relatively less risk is involved.

Trade - Relatively less risk is involved.

5)SIDE : Industry-It represents supply side of goods and services.

Commerce-It represents demand side of goods and services.

Trade -It represents both supply and demand.