Mir Moiz’s Weblog

Life is meaningful, only when one wishes to make it. We are creatures of time and we’ll wither away in it. The little moments of joy we find and create are all that will live with us.

Commerce, Trade or Business

A lot of people get confused about the merits of the differing terms of commerce, trade and business and use them interchangeably quite often, yet the three terms are entirely different.

Business is the overarching entity that holds within it commerce and trade.
Commerce is the buying and selling part alone. It’s an activity that can be performed not an entity that can be owned.
Trade is also the activity of buying and selling but it refers primarily to the exchange of high value and high quantity and mostly over long distances.
It is also an activity that can be performed not an entity that can be owned.

To own a business is to own an entity that has the capacity to conduct commerce or trade in goods and/or services.

© MIR

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