Question

Answer each of the following questions in two or three sentences.
Give the meaning of trade and Commerce.

Answer 1

Trade refers to the buying and selling of goods and services between two or more parties in exchange of some monetary consideration within or beyond the domestic territory of the country.

Commerce refers to the exchange of these goods and services by using banking, insurance, advertisement, transportation etc. in order to complement such exchange. Therefore, commerce refers to the aid to trade.