Different between industry commerce and trade
Answers
Explanation:
Industry: It involves manufacturing activities such as extraction, construction and production of goods. Commerce: It involves distribution of products produced by industries, Trade: It involves transfer or exchange of products distributed by commerce. Industry: Requires huge amount of capital to establish industry.
Explanation:
Business Activity is divided into commerce and industry. Commerce is sub classified into trades.
Trade: It means the interchange of goods or products and services between 2 or more parties. It represents demand and supply. It requires capital.
Commerce: It is also interchange of goods or products and services together with other activities such as transportation, insurance, etc. The scope of the field of commerce is greater than trade. It represents only the demand side. The capital required is lesser than trade.
Industry: It deals with extraction, manufacturing, processing, and construction of useful products. The scope of industry involves both finished and semi-finished products. It requires huge capital. It represents both the demand and supply side.
To read more:
https://brainly.in/question/12349809