Theory question 102
Introduction to CommerceCommerce 2 (essay)
(a) State the difference between industry and commerce
(b) Mention and explain five types of commercial occupations and three types of industrial occupations.
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(a) Industry is the production of goods (extracting raw materials, manufacturing and construction), while commerce is the distribution and exchange of the goods produced (trade and aids to trade).
(b) Commercial occupations (any five, explained): trading/retailing and wholesaling; banking; insurance; transport; communication; warehousing; advertising.
Industrial occupations (three): extractive (farming, fishing, mining); manufacturing (turning raw materials into finished goods); constructive (building roads, houses, bridges).
Industry makes goods; commerce gets them to consumers.