Synthetic industry which combines various ingredients into a new product, as in the case of cement.

Secondary Industries are concerned with using the materials which have already been extracted .at the primary stage. These industries process such materials to produce goods for final consumption or for further processing by other industrial units.

(i) Primary Industry is concerned with the Production of goods with the help of nature.
(ii) It is a nature - oriented industry, which requires very little human effort.
(iii) For Example: Agriculture, farming, forestry, fishing, horticulture, etc.
(iv) These Industries are further divided into extractive industries and genetic Industries.

Trade is an essential part of commerce. The term 'Trade' is used to denote buying and selling.

Industry refers to economic activities, which are connected with conversion of resources into useful goods.

Usually, goods are not sold or consumed immediately after production. They are held in stock to make them available as and when required. Special arrangement must be made for storage of goods to prevent loss or damage. Warehousing helps business firms to overcome the problem of storage and facilities the availability of goods when needed. Prices are thereby maintained at a reasonable level through continuous supply of goods.

Manufacturing industries are engaged in producing goods through processing of raw materials and thus creating form utilities. They bring out diverse finished products, which we consume or use, through the conversion of raw materials or partly finished materials in their manufacturing operations.

Goods are not sold or consumed immediately after production.They are held in stock to make them available as and when required. A place where the process of storage is done is known as warehouse.The process of keeping the goods is known as warehousing.

(i) Economic activities:
Commerce deals with all economic activities undertaken for profit.
(ii) Exchange of goods and Services:
Commerce involves an exchange of goods and services for profit.
(iii) Earning Motive :
Profit is an incentive for undertaking all commercial activities.

Tertiary industries do not produce any goods. These Industries produce utility services and sell them at a profit. They help trade, Industry and Commerce. This term also includes auxiliaries to trade like banking, insurance, warehouse, advertisement etc.

These industries produced goods for final consumption or for further processing by other industrial units. For example, mining of an iron ore is a primary industry, but the manufacturing of steel is secondary industry.It can be categorized.as follows:
1) Manufacturing Industries:
These industries are engaged in producing goods through processing of raw materials and thus creating from utilities. These industries may be further divided into four categories on the basis of method of operation for production.
2) Analytical Industry:
Which analyses and separates different elements from the same materials,as in the case of oil refinery.
3) Synthetically Industry:
Which combines various ingredients into a new products,as in the case of cement.
4) Processing Industry:
Which involves successive stages for manufacturing finished products, as in the case sugar and paper.
5) Assembling Industry:
Which assembles different component parts to make a new product, as in the case of television,car, computer, etc.
6) Construction Industries:
These industries are involved in the construction of building, dams, bridges, roads as well as tunnels and canals.

(i) Personalised service :
Individuals and Private Institutions selling their services to others. Eg. Plumber, servant maid, etc.
(ii) Public service:
Government hospitals, schools, police, government offices, etc., provide services to the people on behalf of the government without profit motive.
(iii) Distributive service:
Transportation, warehousing logistics, salesmanship, etc., come under this type of service.
(iv) Financial service:
Banking, factoring, accounting and insurance, etc., are grouped under this type of service.
(v) Quaternary service:
(1) Professional or specialised skills and high technology are used to provide this type of service.
(2) Eg : Software development, auditing, research and development, etc.
(vi) Quinary Service:
(1) New ideas are generated, new technologies are evolved, new policies are implemented by selected individual experts.
(2) Their decisions influence nations, international institutions etc. i.e. inventors.

The following are the characteristics of Commerce.
(i) Economic activities:
(1) All economic activities are undertaken to earn Profit. commerce deals with all economic activities undertaken for profit.
(2) So, commerce is concerned with all economic activities directed towards earning profit.
(ii) Exchange of goods and services :
(1) Commerce involves an exchange of goods and services for profit.
(2) Goods may be produced for the purpose of resale to the consumers.
 (iii) Earning motive :
(1) Profit is an incentive for undertaking all commercial activities.
(2) Any activity, which does not have the incentive of profit, will not be a part of commerce.
For Example: If a trader gives some goods as Charity.
(iv) Creation of Utility:
Commerce creates form, place and time utility in goods.
(v) Regularity of transaction:
The transaction should be regular. No isolated transaction will be a part of commerce.

Comparison between Industry, commerce and Trade