According to Dictionary.com, the definitions of the two words 'industry' and 'commerce' are as follows:
• Industry - the aggregate of manufacturing or technically productive enterprises in a particular field, often named after its principal product (for instance 'the automobile industry' or 'the steel industry')
• Commerce - an interchange of goods or commodities, particularly on a large scale, between different countries (foreign commerce) or between different parts of the same country (domestic commerce)
Following these definitions, it can be said that commerce can take place within an industry. Taking the example of firms from two countries engaging in the trade of steel, for instance, you can say that the transaction itself is commerce, while the industry in which the commerce is taking place is the steel industry.
Industry is divided into four sectors. These are:
• Primary
The extraction of resources directly from the Earth (such as farming, logging and mining). The products are not processed but are sent off to factories.
• Secondary
The group that processes the products that come from the primary industries. Examples would be factories, such as those that refine metals, produce furniture of pack farm and food products.
• Tertiary
The provision of services. Workers in the tertiary industry include teachers, managers and other kinds of service providers.
• Quarternary
The group involved in the research of science and technology. The most prominent individuals within this group are scientists.
As a country becomes more developed, workers tend to move away from the primary sector and on to the tertiary sector of industry. Governments of countries will also tend to use industry classification systems. Although these vary from country to country, the three main sectors normally tend to be defined as agriculture, manufacturing and services.
• Industry - the aggregate of manufacturing or technically productive enterprises in a particular field, often named after its principal product (for instance 'the automobile industry' or 'the steel industry')
• Commerce - an interchange of goods or commodities, particularly on a large scale, between different countries (foreign commerce) or between different parts of the same country (domestic commerce)
Following these definitions, it can be said that commerce can take place within an industry. Taking the example of firms from two countries engaging in the trade of steel, for instance, you can say that the transaction itself is commerce, while the industry in which the commerce is taking place is the steel industry.
Industry is divided into four sectors. These are:
• Primary
The extraction of resources directly from the Earth (such as farming, logging and mining). The products are not processed but are sent off to factories.
• Secondary
The group that processes the products that come from the primary industries. Examples would be factories, such as those that refine metals, produce furniture of pack farm and food products.
• Tertiary
The provision of services. Workers in the tertiary industry include teachers, managers and other kinds of service providers.
• Quarternary
The group involved in the research of science and technology. The most prominent individuals within this group are scientists.
As a country becomes more developed, workers tend to move away from the primary sector and on to the tertiary sector of industry. Governments of countries will also tend to use industry classification systems. Although these vary from country to country, the three main sectors normally tend to be defined as agriculture, manufacturing and services.
