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Industry is a component of business. The term Industry refers to that part of business activity which is concerned with the extraction, production or fabrication of products.
Commerce is also a component of Business. It's the study of buying and selling of goods.
Wiki User
∙ 11y ago
Wiki User
∙ 11y agoIndustry is economic activity associated with the processing of raw materials and manufacture of products in factories. Commerce is the activity of buying and selling, especially on a large scale.
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What is difference between industry trade and commerce?
industry is the place where goods are manufactured trade is the related to exchange of goods commerce is related to distribution of goods
Which Indian state leads in commerce and industry?
which of the following states leads in commerce and industry
Difference between business and commerce?
In brief:Business vs Commerce• Commerce and business are words with similar meaning but they also differ from one another• While business can be an entity, commerce refers to trade and trade related activities.• Commerce focuses on buying and selling part of a business whereas there is much more to a business than just buying and selling.Read more: http://www.differencebetween.com/difference-between-commerce-and-vs-business/#ixzz1tPYEpOCK
What is relationship between industry and commerce?
Business is divided into two categories: industry andcommerce. Commerce is again sub-divided into trade and aids to trade. Practically all of them are closely related to each other. They are inseparable. All of them are parts of the wholebusiness system.Industry and commerce are closely related to each other. Industry cannot exist withoutcommerce and commerce cannot exist without industry. Because every producer has to find his market for his products to sell. But the producer has no direct connection with the buyers or consumers. Hence, industry needs commerce. Commerce is concerned with the sale, transfer or exchange of goods and services. Hencecommerce needs industry for the production of goods and services. Commerce makes the necessary arrangement for linking between producers and ultimate consumers. It includes all those activities that are involved in buying, selling, transporting, banking, warehousing of goods, and insurance for safeguarding the goods.Trade includes sale, transfer or exchange of goods. It does not include other functions ofcommerce like transportation, insurance, banking, warehousing, etc. If there were notrade, the producers would have to find customers for their products. Therefore withouttrade there would be little need for commerce. Similarly trade without aids to trade is meaningless and they exist for trade.In conclusion, we can say that industry, trade and commerce are inter-related with each other. Industry is concerned with production of goods and services and commercearranges its sales; but the actual operation of sales is in the hands of trade. So they cannot work independently.
The main difference between a developing nation and a developed nation is?
industry :) thx
What is difference between industry trade and commerce?
industry is the place where goods are manufactured trade is the related to exchange of goods commerce is related to distribution of goods
Difference between interstate commerce and interstate commerce?
There isnt a difference between interstate commerce and interstate commerce.
The difference between accounting nations and accounting commerce?
the difference between accounting nations and accounting commerce
What is the difference between industry and market?
what is the differences between Industry and Market
What is difference between e-commerce and commerce?
Capability to generate REVENUES for BUSINESS through INTERNET.
Difference between intrastate commerce and interstate commerce?
Intrastate commerce is that business that is conducted between business entities that exist within the same state, while interstate commerce is that which is conducted between businesses located in differing states.
What is the difference between Semiconductors Industry and Electronics Industry?
semiconductors
What is the function of the Caribbean association of industry and commerce?
functions of caribbean association of industry commerce
Which Indian state leads in commerce and industry?
which of the following states leads in commerce and industry
What is the difference between industry and factory?
A factory is one kind if industry location
Who is the Minister of trade and commerce in India?
Anand Sharma is Minister of Commerce & Industry, Government of India and JYOTIRADITYA M. SCINDIA - Minister of State for Commerce & Industry
What is the difference between iron and steel industry in jamshedpur and in Detroit?
There is no different between them because india have no iron and steel industry
