Question

Write short notes on the following.

Interdependence of industry and commerce.

Answer 1

Industry and commerce are the two parts of business. Industry deals in production of goods and services, while commerce makes distribution of goods and services possible. If we produce goods and services and fail to distribute them, the ultimate goal of satisfying consumer wants will fail too. At the same time, there is no use of commerce until industries produce goods, as commerce comes after industry. So, the two are interdependent.