Question

Industry is an economic activity where as Commerce is a business activity.

• A. True
• B. False

Answer 1

The correct option is A True

Industry is an economic activity where as Commerce is a business activity- this is a true statement. Industry is concerned with the procurement and processing of raw materials into finished goods and thus it is an economic activity. Commerce is classified as a business activity as the it deals with the exchange of goods and services for value.