Question

differentiate between industry Commerce and trade on any five basis

Answer 1

1)Industry involves extraction or conversion of goods,commerce involves distribution of those products,and trade involves purchase and sale of the same goods.. 2)only in case of industry risk involved is usually high and in the remaining two the risk rate remains low.. 3)in case of industry large capital is required,in commerce less capital is needed, n in trade also a capital is required..

Answer 2

Business is an economic activity, concerned with the provision of goods and services with an aim of earning a profit. There is two major classification of business activities, i.e. industry and commerce. The industry is all about the production of goods, whereas commerce focuses on their distribution of goods and services.
Industry implies all the activities that are concerned with the conversion of raw materials into finished goods. Conversely, commerce aims at providing goods at the right place, in proper quantity, in the right condition and at right time