Question

Distinguish between:

Business and Commerce.

Answer 1

Business	Commerce
1. Meaning: It is an economic activity engaged in production and distribution of goods and services.	Commerce takes Care of the distribution of goods and services.
2. Concept: Business is a wider term than business.	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.