IV. Long Answer Type Questions
1. Explain with examples the various types of industries.
2. What do you understand by Commerce? Explain its Components.
3. Define trade. Explain briefly different types of trade.
4. Differentiate among Industry, Commerce and Trade.
5. Explain the Auxiliaries to Trade.
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6. Describe the activities relating to commerce.
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(a) Commerce deals with activities which facilitate exchange of goods/services. (b) It deals with transfer of goods from one place of production to ultimate consumers. ... (iv) Industry refers to all economic activities involved in converting raw materials into finished products which are ultimately consumed by consumers.
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