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InterviewSolution
| 1. |
Explain the difference between industry commerce and trade |
| Answer» \tIndustryCommerceTrade1.\xa0Refers to the production of goods and services.Refers to the distribution of goods and services supplied by industries.Refers to the\xa0actual exchange or and of purchase and sale.2.\xa0It represents supply side of goods and services.It represents demand side of goods and services.It represents the exchange of goods and services.3.\xa0It requires huge fixed and working capital in productionIt requires limited fixed capital, but huge working capital.It requires limited fixed capital. Limited working capital is enough if turnover is quick.4.\xa0It includes genetic, extractive, manufacturing and construction industries.It includes trade and auxiliaries to trade.It includes domestic and international trade.5.\xa0It may be carried on at home, workshop, factory or mine.It involves movement of goods from the place of production to the place of consumption.It is carried on where buyers and sellers exist.6.\xa0It creates form utility by changing the form or shape of materials.It creates place utility and time utility through preservation of goods and their movement from one place to another.It creates place utility through exchange of goods and services.\t | |