Distinguish between the following.

Industry and commerce.

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Solution

Basis of Difference Industry Commerce

Meaning Production of goods and services Distribution of goods and services supplied by industries

Nature Represents supply side of goods and services Represents demand side of goods and services

Capital Requires huge fixed and working capital Requires limited fixed capital and huge working capital

Resource required Production takes place with the help of manpower and machines Mostly manpower is required

Scope It includes genetic, extractive, manufacturing and construction industries It includes trade and auxiliaries of trade

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Basis of Difference	Industry	Commerce
Meaning	Production of goods and services	Distribution of goods and services supplied by industries
Nature	Represents supply side of goods and services	Represents demand side of goods and services
Capital	Requires huge fixed and working capital	Requires limited fixed capital and huge working capital
Resource required	Production takes place with the help of manpower and machines	Mostly manpower is required
Scope	It includes genetic, extractive, manufacturing and construction industries	It includes trade and auxiliaries of trade