2. Business means an enterprise engaged in the production
and distribution of goods for sale in the market or the
rendering of services for a prices
(An organization or economic system where goods and
services are exchanged for one another or for money. Every
business requires some form of investment and enough
customers to whom its output can be sold on a consistent
basis in order to make a profit. Businesses can be privately
owned, not-for-profit or state-owned. An example of a
corporate business is PepsiCo, while a mom-and-pop
catering business is a private enterprise.)
3. Sale, transfer or exchange
Dealing in Goods & Services
Continuity in Dealings
Profit motive
Risk or Uncertainty
5. Industry is used to refer to the processes by which
useful things are extracted from the environment and
transformed, processed, fabricated and multiplied into
other products.
Extractive Industries
Genetic Industries
Manufacturing Industries
Construction Industries
6. Commerce is concerned with the exchange of goods &
services : with all that involved in the buying & selling
of goods at any stage in their progress from the Raw
materials to finished goods in consumer’s hand.
Bridges the gap between the producers & consumers.
(Exchange of goods or services for money or in kind,
usually on a scale large enough to require transportation
from place to place or across city, state, or national
boundaries.)
7. Hindrance of person
Hindrance of place
Hindrance of time
Hindrance of risk
Hindrance of exchange
Hindrance of knowledge
8. It is concerned with sale, transfer or exchange of
goods.
Internal or Home Trade
Wholesale Trade
Retail Trade
International or Foreign Trade
Import Trade
Export Trade
Entrepot Trade
(Commercial transaction involving the sale and purchase
of a good, service, or information.)
11. MEANING: Industry- Extraction, reproduction, conversion, processing
and construction of useful products.
Commerce- Activities involving distribution of goods and services.
Trade - Purchase and sale of goods and services.
2)SCOPE: Industry- Consists of all activities involving conversion of
materials and semi-finished products into finished products.
Commerce- Comprises trade and auxiliaries to trade.
Trade - Comprises exchange of goods and services.
3)CAPITAL: Industry- Generally large amount of capital is required.
Commerce- Need for capital is comparatively less.
Trade - Capital is needed to maintain stock and grant credit.
4)RISK : Industry- Risk involved is usually high.
Commerce- Relatively less risk is involved.
Trade - Relatively less risk is involved.
