question_answer

Distinguish between industry, trade and commerce.

Answer:

Ans.                

Basis	Industry	Commerce	Trade
Meaning	Production of goods and services.	Distribution of goods and services.	Buying and selling of goods and services.
Capital requirement	Large amount of capital invested.	Comparatively lesser invested capital.	Less capital depending on the nature of business.
Scope	It includes primary, secondary and services industries.	It includes trade and auxiliaries to trade.	It includes home and foreign trade.
Risk	It involves maximum risk.	Less risk as compared to industry.	Least risk involved.
Utility	Creates form utility.	Creates place and time utility.	Creates possession utility.