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Give one word/phrase/term. Name the business activity which is concerned with the production of goods and services. - Organisation of Commerce and Management

Question

Give one word/phrase/term.

Name the business activity which is concerned with the production of goods and services.

One Word/Term Answer

Solution

Industry

Explanation:

Industry is the business activity involved in the production of goods (such as manufacturing and processing) and the provision of services (such as banking, transport, and IT). It includes both goods-producing and service-producing activities, which is why it fits the definition perfectly.

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Chapter 1: Introduction of Commerce and Business - EXERCISE [Page 17]