Q.Distinguish between Industry and Commerce (any three points).

Industry and Commerce are the two complementary branches of business — one produces goods, the other moves them to consumers.

Industry vs. Commerce:

1. Function — Industry is concerned with the production/processing of goods; Commerce is concerned with the distribution and exchange of goods already produced.
2. Components/sub-divisions — Industry divides into Extractive, Genetic, Manufacturing, and Construction industries; Commerce divides into Trade and the Aids to Trade (transport, banking, insurance, warehousing, advertising, communication). …