Understanding the Meaning of Industry in Commerce
What is the meaning of industry in commerce? It is a question often asked, and often not understood. Many people think that it is some abstract or mysterious concept, but I assure you that it is anything but. The meaning of industry in commerce is simply defined as the conduct of business affairs.
What Do You Mean By Commerce?
What do you mean by industry in commerce when you say that it refers to any type of business activity involving production, distribution, and marketing. The definition of what is commerce has been used since the beginning of the nation. For example, it was considered a wonder for England’s merchants to conduct trade with everyone else since they all traveled through England on horseback. Today, we have all of those same functions being performed by trucking companies, computer firms, steel producers, and coal mining companies, just to name a few.