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DIFFERENCE BETWEEN INDUSTRY,TRADE AND COMMERCE.


Posted- 2127 days ago
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An industry or sector (from Latin industrius, "diligent, industrious") is the manufacturing of a good or service within a category.[1] Although industry is a broad term for economic activity and trade, in economics and urban planning industry is a synonym for the secondary sector, which is a type of economic activity involved in the manufacturing of raw materials into goods and products. Trade is the exchange of goods, services, or both. Trade is also called commerce. A mechanism that allows trade is called a market. The original form of trade was barter, the direct exchange of goods and services. Modern traders instead generally negotiate through a medium of exchange, such as money. As a result, buying can be separated from selling, or earning. The invention of money (and later credit, paper money and non-physical money) greatly simplified and promoted trade. Trade between two traders is called bilateral trade, while trade between more than two traders is called multilateral trade. Commerce is a division of trade or production which deals with the exchange of goods and services from producer to final consumer. It comprises the trading of something of economic value such as goods, services, information or money between two or more entities. Commerce functions as the central mechanism which drives capitalism and certain other economic systems (but compare command economy, for example). Commercialization or commercialisation consists of the process of transforming something into a product, service or activity which one may then use in commerce
 

An industry or sector (from Latin industrius, "diligent, industrious") is the manufacturing of a good or service within a category.[1] Although industry is a broad term for economic activity and trade, in economics and urban planning industry is a synonym for the secondary sector, which is a type of economic activity involved in the manufacturing of raw materials into goods and products. Trade is the exchange of goods, services, or both. Trade is also called commerce. A mechanism that allows trade is called a market. The original form of trade was barter, the direct exchange of goods and services. Modern traders instead generally negotiate through a medium of exchange, such as money. As a result, buying can be separated from selling, or earning. The invention of money (and later credit, paper money and non-physical money) greatly simplified and promoted trade. Trade between two traders is called bilateral trade, while trade between more than two traders is called multilateral trade. Commerce is a division of trade or production which deals with the exchange of goods and services from producer to final consumer. It comprises the trading of something of economic value such as goods, services, information or money between two or more entities. Commerce functions as the central mechanism which drives capitalism and certain other economic systems (but compare command economy, for example). Commercialization or commercialisation consists of the process of transforming something into a product, service or activity which one may then use in commerce

 

Industry and commerce are the two main part of business :

Industry refers to the production activities.

commerce: It deals with all those activiies which fecilitiate business to run with ease.

Trade: It is the part of commerce, trade is related with parchase and sale of good for the mutual profit of both buyer and seller.

 

 

 
commerce is the distribution of goods and services