Difference between commerce, Economics and Business (7 points).

Commerce involves the study of goods and services sold by the producers to consumers. Business it involves how people work together in an organized way so as to cater for the societal needs, the goal being to earn profit, it studies the interaction involved in the production and exchange of goods and services. Economics is broader in that it studies how individuals, business and the societies utilize available resources to ensure maximum production of goods and services and how they reach the consumers.