Transcription of 2 INDUSTRY AND COMMERCE
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2 INDUSTRY AND COMMERCE
NotesBUSINESS STUDIES31 INDUSTRY AND COMMERCEB usiness represents organized efforts by an individual or group of individualsengaged in making a living. The term business has been defined by differentauthors in their own way. According to Urwick and Hunt, Business is anyenterprise which makes, distributes, or provides any article or service, whichother members of the community need and are able and willing to pay for. It,therefore, includes all those activities which involve production or purchaseof goods or rendering of certain services with the object of selling them at aprofit. Business comprises all profit seeking activities and enterprises thatprovide goods and services necessary to an economic studying this unit, you will be able to: classification of business activities; INDUSTRY and its types; COMMERCE - trade and its auxiliaries; define the term e- COMMERCE ; describe the categories of e- COMMERCE ; and discuss the
of goods or rendering of certain services with the object of selling them at a profit. Business comprises all profit seeking activities and enterprises that ... Industry is concerned with production/distribution. ii. Commerce is mainly concerned with production/distribution. iii. One who buys and sells in large quantities is a wholesaler/ retailer.
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