For example, cotton textile industry refers to all manufacturing units producing textile goods.
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1. These activities are based on economic motives like production of sugar, cement etc.
2. People expect profit or money income.
Non-economic activities :
1. These activities are based on social and psychological motives.
2. People do not expect profits or money income.
commerce is a part of business activities. it includes two types of activities viz:
(i) trade and
(ii) auxiliaries to trade.
(i) Trade: Buying and selling of goods is termed as trade.
(ii) Auxiliaries: There are a lot of activities that are required to facilitate the purchase and sale of goods. These are called services or auxiliaries to trade and include transport, banking insurance, communication, advertisement, packaging and warehousing.
Commerce, therefore, includes both, buying and selling of goods i.e. trade as well as the auxiliaries such as transport, banking, etc. Commerce provides the necessary link between producers and consumers.
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