Q. (a) Differentiate between Trade and Industry.
(b) Discuss the role of Transport in trade
Ans. a) TRADE:
Trade may be defined as the means by which the personal hindrance is removed. It is that branch of commerce which comprises the activities involving the exchange of goods between the producers and the raw’, materials and finished goods, between the manufacturers and the Consumers. The trade refers to the technical process of economic and it is usually concerned with the exchange or goods. Trade also offers additional utilities to the, manufacturers’ goods Shifting the goods from the place of manufacture to the place of consumption and Tot surplus area to the deficit area.
It includes all those activities which are undertake for the shaping, modifying or converting natural & resources into a saleable form for the satisfaction of human wants. It covers the field of manufacturing, mining, fishery. Agriculture, forestry etc. It always refers to large scale production which involves a huge capital, machines, efficient management.
Industry is that part of business activity. Which concerns itself. With the raising., production , processing or fabrication of products, ‘the main difference between the two is that trade starts after completing goods from industry in case of manufacturing goods.