Question

Tick the correct alternative.
i. Industry is concerned with production/distribution.
ii. Commerce is mainly concerned with production/distribution.
iii. One who buys and sells in large quantities is a wholesaler/
retailer.
iv. The medium which moves men, materials from one place to
another is called insurance/transport.

Answer 1

Answer:

1production

2 distribution

3 wholesaler

4 transport

Answer 2

Answer:

i. The 'industry is concerned' with 'production/distribution' – Production

ii. 'Commerce is 'mainly concerned' with 'production/distribution' – Distribution

iii. One who 'buys and sells in 'large quantities' is a wholesaler/retailer – Wholesaler  

iv. The 'medium' which moves 'men, materials from 'one place to another' is called insurance/transport – Transport  

Explanation:  

• Industries are concerned with the production of the products.
• Commerce is not mainly concerned with the distribution and sale of the goods to generate money.
• A wholesaler is a person who sells in large quantities but a retailer is not.
• Transport is the medium through which men, materials are moved from one place to another. Insurance is a different aspect.