Distinguish between Commerce and Industry

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Solution

Basis of difference	Commerce	Industry
1. Meaning	Commerce includes all those activities which help to remove all the obstacles which rise from transporting of finished goods from one place to another.	Under industry activities relating to conversion of raw materials into finished goods are included.
2. Origin and Growth	Commerce originated with trade and industry.	Origin of industry took place as result of industrial revolution.
3. Capital	It helps to run the trade and industry smoothly, and is not qualified by large capital requirement.	Large amount of capital is needed to start and run an industry.
4. Scope	It includes (i) trade, (ii) aids to trade.	It includes (i) Genetic, (ii)Extractive types of Industries.
5. Responsibility	It does not have any special responsibility.	Industries have a great responsibility since the progress of a country depends on its Industries.