Question

What is the key difference in scope between business and commerce?

Options

• Business = production + distribution + sale; Commerce = distribution + trade only.

• Commerce is broader than business.

• Both have the same scope.

• Business deals only with services.

Answer 1

Business = production + distribution + sale; Commerce = distribution + trade only.

Explanation:

Business includes production, distribution, and sale. Commerce focuses narrowly on the distribution and trading of goods.