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What is the primary difference between trade and commerce?
  • a)
    Trade involves only the exchange of goods, while commerce encompasses various activities like transportation and finance.
  • b)
    Commerce focuses solely on buying and selling, while trade includes financial management and legal compliance.
  • c)
    Trade and commerce are interchangeable terms with no significant differences.
  • d)
    Commerce is limited to the transfer of products, while trade involves a broader set of activities.
Correct answer is option 'A'. Can you explain this answer?
Verified Answer
What is the primary difference between trade and commerce?a)Trade invo...
Trade involves the exchange of goods and services, while commerce is a broader concept that includes activities such as transportation, finance, and logistics in addition to trade. The primary function of trade is the transfer of products, whereas commerce involves financial management, legal compliance, and support services. Therefore, Option A correctly captures the primary difference between trade and commerce.
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What is the primary difference between trade and commerce?a)Trade involves only the exchange of goods, while commerce encompasses various activities like transportation and finance.b)Commerce focuses solely on buying and selling, while trade includes financial management and legal compliance.c)Trade and commerce are interchangeable terms with no significant differences.d)Commerce is limited to the transfer of products, while trade involves a broader set of activities.Correct answer is option 'A'. Can you explain this answer?
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What is the primary difference between trade and commerce?a)Trade involves only the exchange of goods, while commerce encompasses various activities like transportation and finance.b)Commerce focuses solely on buying and selling, while trade includes financial management and legal compliance.c)Trade and commerce are interchangeable terms with no significant differences.d)Commerce is limited to the transfer of products, while trade involves a broader set of activities.Correct answer is option 'A'. Can you explain this answer? for UPPSC (UP) 2025 is part of UPPSC (UP) preparation. The Question and answers have been prepared according to the UPPSC (UP) exam syllabus. Information about What is the primary difference between trade and commerce?a)Trade involves only the exchange of goods, while commerce encompasses various activities like transportation and finance.b)Commerce focuses solely on buying and selling, while trade includes financial management and legal compliance.c)Trade and commerce are interchangeable terms with no significant differences.d)Commerce is limited to the transfer of products, while trade involves a broader set of activities.Correct answer is option 'A'. Can you explain this answer? covers all topics & solutions for UPPSC (UP) 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for What is the primary difference between trade and commerce?a)Trade involves only the exchange of goods, while commerce encompasses various activities like transportation and finance.b)Commerce focuses solely on buying and selling, while trade includes financial management and legal compliance.c)Trade and commerce are interchangeable terms with no significant differences.d)Commerce is limited to the transfer of products, while trade involves a broader set of activities.Correct answer is option 'A'. Can you explain this answer?.
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