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Difference Between Commerce, Trade & Industry

Commerce involves the distribution and sale of goods, while trade is the buying and selling of goods. Industry refers to the manufacturing and production of goods. Some key differences include: - Commerce deals with aiding the movement of goods from producer to consumer. Trade specifically involves the exchange of goods, while industry produces goods. - Commerce requires less capital than industry, which needs heavy capital for manufacturing. Trade also requires less capital than industry. - The risk is lower for commerce and trade due to lower investment needs, compared to industry which has higher risks due to large capital requirements.

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2K views

Difference Between Commerce, Trade & Industry

Commerce involves the distribution and sale of goods, while trade is the buying and selling of goods. Industry refers to the manufacturing and production of goods. Some key differences include: - Commerce deals with aiding the movement of goods from producer to consumer. Trade specifically involves the exchange of goods, while industry produces goods. - Commerce requires less capital than industry, which needs heavy capital for manufacturing. Trade also requires less capital than industry. - The risk is lower for commerce and trade due to lower investment needs, compared to industry which has higher risks due to large capital requirements.

Uploaded by

beenish
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd
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Difference between commerce, Trade & Industry

 Commerce:
“Commerce embraces all those processes, which help to
break the barriers between producer and consumer”
(James Stephenson)

 Industry :
Industry refers to production of goods and services for final
consumption or further production. Where goods produced are consumed
by ultimate consumer goods. Where goods produced by one industry are
consumed by another industry for further production.

 Trade:
“Trade is an activity of buying and selling of goods for money or other
goods.”
Commerce Trade Industry

1.Nature: It is related to exchange of It is related to manufacturin


It is related to distribution of goods. of goods.
goods.

2.Development: It got development with It got development in 18th


It got development in 12th human civilization. century.
century.

3. Capital: There is need of less capital. There is need of heavy


There is need of less capital. capital.

It is concerned with trade. It is a part of business.


4.Scope:
It is concerned with trade
and aids to trade.
The risk involved is low due The risk involved is high due
5. Risk: to less investment.
The risk involved in it is low to heavy capital.
due to less investment.
It depends upon raw It depends upon raw
6. Dependence: material, semi finished and material for making goods.
It depends upon finished finished goods.
goods for selling things.
It can create possession It can create form or shape
7. Utility: utility. utility.
It can create place utility.
The sale organization is The skilled labour and
9. Staff: needed to exchange goods. engineers are required to
The sales forces and agents make products.
are needed to sell.
Trade is an element of Industry is an element of
10. Elements: commerce. business.
Commerce is an element of
business.
It depends upon preserving It depends upon modern
11. Technology: technology for goods. technology for production.
Commerce depends upon
sales technology.

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