Question

Objectives of business Appreciate the economic and social objectives of business. Examine the role of profit in business. Classification of business activities - Industry and Commerce Understand the broad categories of business activities- industry and commerce. Industry-types: primary, secondary, tertiary Meaning and subgroups Describe the various types of industries. Commerce-trade: (types-internal, external; wholesale and retail) and auxiliaries to trade; (banking, insurance, transportation, warehousing, communication, and advertising) – meaning Discuss the meaning of commerce, trade and auxiliaries to trade. Discuss the meaning of different types of trade and auxiliaries to trade. Examine the role of commerce trade and auxiliaries to trade. Business risk-Concept Understand the concept of risk as a special characteristic of business. Examine the nature and causes of business risks.





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Answer 1

Answer:

Explanation:

Commerce is concerned with buying, selling and distribution of commodities. It is an organised system for the exchange of goods and services. ... The purpose of commerce is to provide the right goods to the right persons at file right time and at the right place. Therefore, we can say business depends on commerce.