Why is commerce considered as the backbone of industry and other business activities?

CBSE Class 11 CBSE Class 11 Business Studies
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1

Commerce is considered as the backbone of industry because it performs the following functions :

  1. Helps in eliminating the hindrances of persons.
  2. Helps in eliminating the hindrances of place.
  3. Helps in eliminating the hindrances of time.
  4. Helps in eliminating the hindrances of finance.
  5. Helps in eliminating the hindrances of risk.
  6. Helps in eliminating the hindrances of information.