Subject: Accountancy
Different business activities are carried on by the people generating incomes. On the basis of the nature of these business activities, the business can be classified as follows:
Industry refers to the act of producing raw materials and finished goods. It is the process of converting raw materials into finished goods. It is the activity relating to extraction, reproduction, manufacturing and construction of products. On the basis of production, an industry can be classified as follows:
1. Primary industry: The Primary industry is concerned with extracting raw materials from the soil or beneath the surface of the earth and reproducing certain species of plants and animals. The final products of primary industry are used as raw materials by secondary industry. The primary industry can be divided as follows:
2. Secondary industry: The Secondary industry is concerned with converting raw materials into finished goods and constructing different assets. The final products of secondary industry can be directly consumed by final customers. The secondary industry can be divided as follows:
Commerce refers to the act of buying, selling and distributing of goods and services. It is the process of connecting the producer of goods with their final consumers. It is the activity related to buying, insurance, transportation, warehousing and communication. It can be divided into two classes as follows:
Trade is concerned with buying and selling of goods. It is the process of exchanging goods with money for mutual benefits of the buyer and seller. It is the act of transferring the ownership of goods from the seller to the buyer. It can be classified as follows:
1. Home trade
Home trade is the act of buying and selling goods within the boundary of the country. It can be classified as following:
2. Foreign trade
Foreign trade is the act of buying and selling goods outside the boundary of the country. It is carried on between the citizens of two or more countries. The payment of goods in foreign trade is made in foreign currencies. It can be classified as follows:
In the process of distributing goods to different markets, the seller has to face a number of problems. These problems are related to finance, insurance, transportation, warehousing, and communication. To remove such problems and facilitate for distribution of goods and services, certain organization are established. This organization do not involve in production and distribution of goods but facilitate the distribution of goods and services, certain organizations are established. These organizations does not involve in production and distribution of goods and services. These organizations assists or support in the process of buying and selling to make the distribution effective. Hence, aid to trade refers to the facilities provided by different organizations to remove the problems of distributions. Banking, insurance, transportation, communication, etc. are the examples of aid to trade which facilitate the effective distribution of goods and services.
What is industry?
Industry refers to the act of producing raw materials and finished goods. It is the process of converting raw materials into finished goods. It is the activity relating to extraction, reproduction, manufacturing and construction of products.
What is a primary industry?
The primary industry is an industry which is concerned with extracting raw materials from the soil or beneath the surface of the earth and reproducing certain species of plants and animals.
What is an extractive industry?
An extractive industry is the industry whichis concerned with taking out products from beneath the surface of the earth, soil, water and air. Mining, agriculture, fishing, and lumbering are some of the examples of the extractive industry.
What is a genetic industry?
A genetic industry is an industry which is concerned with reproducing or multiplication of different species of plants and animals. Bee- keeping, poultry farming, cattle- breeding, nurseries and animal husbandry are some of the examples of manufacturing industry.
What is a secondary industry?
A secondary industry is an industry which is concerned with converting raw materials into finished goods and constructing different assets.
What is manufacturing industry?
Manufacturing industry is an industry which is concerned with converting raw materials into final products. Sugar industry, cement factory, soap industry, are the some of the examples of manufacturing industry.
What is a commerce?
Commerce refers to the act of buying, selling and distributing of goods and services. It is the process of connecting the producer of goods with their final consumers.
What is a construction industry?
Construction industry is an industry which is concerned with conducting a construction work at a particular site. Construction of buildings, roads, bridges, cannels and dams are some of the examples of construction industry.
What is a wholesale trade?
The wholesale trade is the process of exchanging goods with money for mutual benefits of the buyer and seller. It is the act of transferring the ownership of goods from the seller to the buyer.
What is trade?
Trade is the process of exchanging goods with money for mutual benefits of the buyer and seller. It is the act of transferring the ownership of goods from the seller to the buyer.
What is a retail trade?
The act of buying goods from the wholesaler in a large quantity and selling them in a smaller quantity of final consumers for their personal use is called retail trade.
What is import trade?
The act of buying goods from a foreign country is called import trade.
What is export trade?
The act of selling goods to a foreign country is known as the export trade.
What is entrepot trade?
The act of buying goods from foreign countries and selling them to another foreign country is called entrepot trade.
What is foreign trade?
Foreign trade is the act of buying and selling goods outside the boundary of the country.
What is home trade?
Home trade is the act of buying and selling goods within the boundary of the country.
What is industry? Explain its types.
Industry refers to the act of producing raw materials and finished goods. It is the process of converting raw materials into finished goods. It is the activity relating to extraction, reproduction, manufacturing and construction of products. On the basis of production, an industry can be classified as follows:
1. Primary industry: The Primary industry is concerned with extracting raw materials from the soil or beneath the surface of the earth and reproducing certain species of plants and animals. The final products of primary industry are used as raw materials by secondary industry. The primary industry can be divided as follows:
2. Secondary industry:The Secondary industry is concerned with converting raw materials into finished goods and constructing different assets. The final products of secondary industry can be directly consumed by final customers. The secondary industry can be divided as follows:
What is trade? Explain its types.
Trade is concerned with buying and selling of goods. It is the process of exchanging goods with money for mutual benefits of the buyer and seller. It is the act of transferring the ownership of goods from the seller to the buyer. It can be classified as follows:
1. Home trade
Home trade is the act of buying and selling goods within the boundary of the country. It can be classified as following:
2. Foreign trade
Foreign trade is the act of buying and selling goods outside the boundary of the country. It is carried on between the citizens of two or more countries. The payment of goods in foreign trade is made in foreign currencies. It can be classified as follows:
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