Question

What is the scope of business?

Answer 1

The scope of business or the extent of business is more extensive than the terms ‘Commerce’ and ‘Trade’.

Trade is one of the parts of the business. It involves the trading of services and products. It fills the role of an intermediary, and along these lines, it moves products from the manufacturers to the end consumers. Then again, business is a more extensive term; it incorporates ‘Trade’ along with the aids to trade, that is, the different exercises that work with exchange.

The term business might be characterised as ‘Trade’, ‘ Commerce’, and ‘Industry’.