explain the inter-realationship between trade commerce and industry
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Commerce is concerned with the sale, transfer or exchange of goods and services. Hence commerce needs industry for the production of goods and services. Commerce makes the necessary arrangement for linking between producers and ultimate consumers. ... Therefore without trade there would be little need for commerce.
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Industry, commerce and trade are closely related to each other. For example, industry provides goods and services which are distributed through commerce. ... Trade involves buying and selling of goods. It is the nucleus of commerce because all business activities revolve around or exchange.
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