A study on evolution of business: Industry and Commerce

Abstract

Present age is the age of commerce and industry. Commerce is that aspect of business activity which is concerned with the distribution of goods and services produced by industry. Division of labour, specialization, mechanization and automation are the main features of this age. All the countries are trying their best efforts to increase the business at fast rate in the world. The historical development of business and its processes of development up to now are called evolution of business. Business was not evolved in one or two days, it has passed different stages gradually for development. It is connected with the changes in the economics development of man. Industrial revolution has played a vital role in business.