2

Structure of Business

LEARNING OBJECTIVES

After studying this chapter, you should be able to know—

  • Classification of Business Activities
  • Classification of Industries
  • Meaning of Commerce
  • Functions of Commerce
  • Classification of Commerce Activities
  • Trade
  • Auxiliaries to Business Activity

Industry includes all those business activities which are connected with raising, producing or processing of goods. Industry creates form utility to goods by bringing materials into the form which is useful for intermediate consumption (i.e. further use as material in other industry) or final consumption by consumers.

Another explanation of the term ‘Industry’ — According to this explanation, the term ‘Industry’ is ...

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