Class 11 Business Studies Chapter 1 Business, Trade and Commerce

Trade and Commerce are the two major activities of a business. Accounting, finance, R&D, production, managing, planning, the method of exchange of goods and services between seller and buyer come under business.

Though many think that trade and commerce are similar and interchangeable, but it has a thin difference. Commerce is related to facilitating the sale of goods and services in the economy, and trade is one of its subsets. Trade is just buying and selling of goods and services in exchange for cash or cash’s worth.

Let us understand and get more insight into various phases of Business, Trade, and Commerce.

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