what is the difference between trade and commerce ??
Answers
Answer:
Business Activities are grouped into two broad categories, i.e. industry and commerce.
Commerce is concerned with facilitating the exchange of goods and services in the economy. It is sub-classified as trade and auxiliaries to trade.
Many think that trade and commerce are the same terms and can be used interchangeably. But the fact is both the terms are different from each other and carry different meanings.
Trade simply means buying and selling of goods and services in return for money or money’s worth.
The scope of commerce is wider than that of trade, which not only refers to the exchange of goods and services but also includes all those activities that are vital for the completion of that exchange.
Answer:
Trade is referred to as a basic economic activity that involves buying and selling of different goods and services between two or more parties involved in the transaction. Commerce involves all the activities that aid in promoting the exchange of goods and services from the manufacturer to the last customers
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