Question

Q.4 Distinguish between. in box


1) Industry and Commerce​

Answer 1

Answer:

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.

Answer 2

Answer:

Business activities may be broadly classified into two categories— industry and commerce. Industry is concerned with the processing of materials and production of goods, whereas commerce is concerned with the distribution of those materials and goods. aids to trade. Trading is an activity of buying and selling.

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