Question

Write five differences between trade and industry​

Answer 1

industry

• Refers to the production of goods and services.

• It represents supply side of goods and services.

• It requires huge fixed and working capital in production

• It includes genetic, extractive, manufacturing and construction industries.

• It may be carried on at home, workshop, factory or mine.

trade

• Refers to the actual exchange or and of purchase and sale.

• It represents the exchange of goods and services.

• It requires limited fixed capital. Limited working capital is enough if turnover is quick.

• It includes domestic and international trade.

• It is carried on where buyers and sellers exist.

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Answer 2

industry

• Refers to the production of goods and services.

• It represents supply side of goods and services.

• It requires huge fixed and working capital in production

• It includes genetic, extractive, manufacturing and construction industries.

• It may be carried on at home, workshop, factory or mine.

trade

• Refers to the actual exchange or and of purchase and sale.

• It represents the exchange of goods and services.

• It requires limited fixed capital. Limited working capital is enough if turnover is quick.

• It includes domestic and international trade.

• It is carried on where buyers and sellers exist.

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