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Question
Distinguish between:
Industry and Commerce.
Solution
| Industry | Commerce |
| 1. Meaning: Industry is engaged in the production of goods and services. | Commerce looks after the distribution of goods and services. |
| 2. Location: Industries are located in the industrial belts which are usually away from residential areas. | Infect there is no particular location of commerce. It gives its services at any location. |
| 3. Utility: Industries create form utility. | Commerce creates a place, time, and possession utility. |
| 4. Resources: Industries require mainly machinery, materials, and manpower for production. | Commerce mainly works with the help of materials and manpower for production manpower. |
| 5. Capital Industries require huge capital. It mainly depends upon the size of the industry. | Activities of commerce comparatively require less capital. |
| 6. Conducted by: Manufacturers. | Traders or mercantile agents. |
| 7. Classification: Industries are divided into Primary, secondary and tertiary types. | Commerce is divided into trade and auxiliaries to trade. |
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