what is the difference among industry,commerce and trade - Business Studies - Business Trade and Commerce

Question

what is the difference among industry,commerce and trade ?

Vipin Bansal · Accepted Answer

Dear Student

Basis
Industry
Trade
Commerce

Meaning
It is a unit that involves the activities related
to the manufacturing and production of various goods and
services
It refers to the exchange of goods and services
produced by the intended parties
It involves the exchange of goods and services
with a motive to earn higher profits by transferring them from
their place of production to the market place

Scope
It includes all the activities relating to the
conversion of raw materials or semi-finished goods into the
finished or final goods
It has a narrower scope of exchanging goods and
services
It has wider scope of exchange as it involves
transportation and shipment of goods

Amount of Capital
It requires huge amount of capital for production
of goods and services
It requires moderate amount of capital for
maintaining the stock or inventory
It requires comparatively less
capital

Demand v/s Supply
It depicts the supply side of goods and
services
It depicts both demand as well supply sides of
goods and services
It depicts the demand side of goods and
services

Regards

Basis	Industry	Trade	Commerce
Meaning	It is a unit that involves the activities related to the manufacturing and production of various goods and services	It refers to the exchange of goods and services produced by the intended parties.	It involves the exchange of goods and services with a motive to earn higher profits by transferring them from their place of production to the market place.
Scope	It includes all the activities relating to the conversion of raw materials or semi-finished goods into the finished or final goods.	It has a narrower scope of exchanging goods and services.	It has wider scope of exchange as it involves transportation and shipment of goods.
Amount of Capital	It requires huge amount of capital for production of goods and services.	It requires moderate amount of capital for maintaining the stock or inventory.	It requires comparatively less capital.
Demand v/s Supply	It depicts the supply side of goods and services.	It depicts both demand as well supply sides of goods and services.	It depicts the demand side of goods and services.