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Nov 3, 2023
1. Scope: Commerce refers to the exchange of goods and services between individuals, businesses, or countries. It involves activities such as buying, selling, and trading. On the other hand, business encompasses a broader range of activities, including commerce, production, marketing, finance, and management.
2. Focus: Commerce primarily focuses on the exchange of goods and services, with an emphasis on the distribution and trade aspects. Business, on the other hand, focuses on the overall management and operations of an organization, including production, marketing, finance, and human resources.
3. Nature: Commerce is more transactional in nature, involving the buying and selling of goods and services. It is concerned with the flow of products and services in the market. Business, on the other hand, is more strategic and long-term oriented, involving planning, organizing, and controlling various aspects of an organization to achieve its objectives.
4. Legal Entity: Commerce does not necessarily require a legal entity or formal organization. It can involve individual traders, small businesses, or even informal transactions. Business, on the other hand, typically involves a legal entity such as a corporation, partnership, or sole proprietorship, which is responsible for conducting various business activities.
5. Scale: Commerce can be conducted at various scales, ranging from small-scale local transactions to large-scale international trade. It can involve individual buyers and sellers, as well as multinational corporations. Business, on the other hand, can also vary in scale, but it generally refers to the overall operations and management of an organization, regardless of its size.
2. Focus: Commerce primarily focuses on the exchange of goods and services, with an emphasis on the distribution and trade aspects. Business, on the other hand, focuses on the overall management and operations of an organization, including production, marketing, finance, and human resources.
3. Nature: Commerce is more transactional in nature, involving the buying and selling of goods and services. It is concerned with the flow of products and services in the market. Business, on the other hand, is more strategic and long-term oriented, involving planning, organizing, and controlling various aspects of an organization to achieve its objectives.
4. Legal Entity: Commerce does not necessarily require a legal entity or formal organization. It can involve individual traders, small businesses, or even informal transactions. Business, on the other hand, typically involves a legal entity such as a corporation, partnership, or sole proprietorship, which is responsible for conducting various business activities.
5. Scale: Commerce can be conducted at various scales, ranging from small-scale local transactions to large-scale international trade. It can involve individual buyers and sellers, as well as multinational corporations. Business, on the other hand, can also vary in scale, but it generally refers to the overall operations and management of an organization, regardless of its size.
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