Question

Writes any four difference between trade and commerce

Answer 1

Trade

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. Trade that takes place between two parties is called a bilateral trade, while the same occurring between more than two parties is called multilateral trade.

Commerce

Commerce is referred to as an economic activity that involves exchange of goods and services or valuables between two entities. It involves purchasing goods and services by large organisations. Commerce mainly deals with transactions taking place between nations.