Question

Distinguish between industry and commerce.

List any two difference between industry and commerce.

Answer 1

Sr. No.	Aspect	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.	In fact, there is no particular location of commerce. It gives its services at any location.
3.	Utility	Industries create form utility.	Commerce creates 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.
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	Industry is conducted by manufacturers.	Commerce is conducted by traders or mercantile agents.
7.	Classification	Industries are divided into primary, secondary, and tertiary types.	Commerce is divided into trade and auxiliaries to trade.