Question
Distinguish between industry, trade and commerce.
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S. No.
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Basis
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Industry
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Commerce
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Trade
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1.
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Meaning
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Production of goods and services.
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Distribution of goods and services.
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Buying and selling of goods and services.
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2.
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Capital requirement
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Large amount of capital invested.
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Comparatively lesser invested capital.
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Less capital depending on the nature of business.
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3.
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Scope
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It includes primary, secondary and services industries.
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It includes trade and auxiliaries to trade.
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It includes home and foreign trade.
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4.
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Risk
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It involves maximum risk.
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Less risk as compared to industry.
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Least risk involved.
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5.
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Utility
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Creates form utility.
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Creates place and time utility.
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Creates possession utility.
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