INTERRELATIONSHIP BETWEEN
INDUSTRY, COMMERCE AND TRADE
Answers
Explanation:
Trade includes sale, transfer or exchange of goods. ... In conclusion, we can say thatindustry, trade and commerceare inter-related with each other. Industry is concerned with production of goods and services and commercearranges its sales; but the actual operation of sales is in the hands of trade.
Answer:
- Industry is concerned with the processing of materials and production of goods, whereas commerce is concerned with the distribution of those materials and goods.
- Commerce is a broad term which conventionally includes trade and aids to trade.
- Trading is an activity of buying and selling.
The relationship between Industry, trade and commerce is given below :-
Trade includes sale, transfer or exchange of goods. We can say that industry, trade and commerce are inter-related with each other. Industry is concerned with production of goods and services and commerce arranges its sales; but the actual operation of sales is in the hands of trade.
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