Difference between trade and commerce industry and it's types
Answers
Answer:
Trade is referred to as a basic economic activity that involves buying and selling of different goods and services between two or more parties involved in the transaction. Commerce involves all the activities that aid in promoting the exchange of goods and services from the manufacturer to the last customers.
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Explanation:
Trade Commerce
Definition
Trade is referred to as a basic economic activity that involves buying and selling of different goods and services between two or more parties involved in the transaction. Commerce involves all the activities that aid in promoting the exchange of goods and services from the manufacturer to the last customers. Primarily, the activities are banking, transportation, advertising, warehousing, insurance, etc.
Reach
Narrow Wider reach
Purpose
Satisfying the social perspective of seller and buyer To look for generation of revenue
Connects
Buyer and seller Manufacturer and end user
Requirement of Capital
Trade requires more capital Commerce has less capital requirement
Employment Opportunities
Less as compared to Commerce More in comparison with trade
The above mentioned is the concept, that is elucidated in detail about ‘Difference between Trade and Commerce’ for the Commerce students