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Forms of Business Organisation — Business Studies STD 11 Commerce — Question

CBSE BoardEnglish MediumSTD 11 CommerceBusiness StudiesForms of Business Organisation1 Mark
Question
"Industry and commerce are interchangeable terms.” Do you agree with this statement?
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Answer

No, I do not agree with the statement. Industry refers to the production of goods through utilisation of resources, whereas commerce is concerned with buying, selling and distribution of commodities produced by the industry.

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