The term refers to factories that combine at least three characteristics:
Use of machinery employment of labour, and the application of regulatory measures such as the Factory Act, Disputes Act.

Distributive service:
Transportation, warehousing, logistics, salesmanship, etc., come under this type of service.

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

Commerce comprises all forms of trade, viz.wholesale, retail, import, export, entrepreneurial services which aid and assist the trading activities such as banking, transport, warehousing, insurance and advertising.

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

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) Commerce refers to all those activities which are necessary for bringing goods from the place of production to the place of their consumption.
(ii) According to Evelyn Thomas "Commercial Operations deal with the Buying and Selling of goods, the exchange of commodities and the contribution of finished products".
(iii) Commerce includes not only trade but also services such as transport warehousing, packaging, insurance, banking and sales Promotion which are incidental or auxiliaries to trade.
(iv) Nearly every business transaction is a form of commerce. purchasing food at a restaurant, buying stocks on the stock market, selling goods in a store, drilling for oil etc.
(v) For example, international commerce takes place between countries, interstate commerce is done across state lines and electric commerce takes place via the Internet.

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.

The industries which produces utility services and sell them at the profit.These industries help trade,commerce and industry.The auxiliaries to trade like banking, insurance,warehouse,advertisement etc are included in this.These industries are further classified as under:
1) Personalized service:
The individuals and private institutions selling their services to others are called as personalized services.E.g Plumber, servant maid etc.
2) Public service:
The government provide services to the people without profit motive through Government Hospital,schools, police, Government offices etc.
3) Distributive service:
Transportation, sales, warehousing, logistics, salesmanship etc. come under this type of service.
4) Financial service:
Banking; factoring, accounting and insurance etc.are grouped under this type of service.
5) Quaternary service:
Professional or specialized skills and high technology are used to provide this type of service. Eg.Software development, Auditing, Research and Development, etc.
6) Quinary service:
Selective individual experts create new ideas, implement new technologies and implement new policies. These decisions influenced the growth and development of national and international institutions.

(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.

Comparison between Industry, commerce and Trade