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Question
Distinguish between:
Business and Commerce.
Solution
| Sr. no. | Points | Business | Commerce |
| 1. | Meaning: | It is an economic activity engaged in producing and distributing goods and services. | Commerce takes Care of the distribution of goods and services. |
| 2. | Concept: | Business is a wider term than Commerce. | Commerce is a narrower term than business. |
| 3. | Part of: | Business is a part of economic activity. | Commerce is a part of the business. |
| 4. | Skill: | Industries require more technical, managerial and marketing skills. | Commerce mainly requires managerial and marketing skills. |
| 5. | Classifications: | Business is classified into two parts: industry and Commerce. | Commerce is divided into two parts: trade and auxiliaries to trade. |
| 6. | Capital: | It requires large capital. | It requires limited capital. |
| 7. | Investment: | Heavy investment is required. | Less investment is required. |
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