In this article we will discuss about the hire purchase system of selling. Prof. J. Stephenson defines 'hire-purchase' as a form of trade in which credit is granted to the customer on the security of a lien on the goods. To put in simple terms, under the hire-purchase system, a seller delivers the goods to the customer (hirer) who agrees [...]
This article will help you to learn about the difference between business and profession. Difference between Business and Profession Business 1. Specialised Knowledge: No specialised knowledge is required for a business. A layman can start a business. 2. Objective: The prime objective of a business is to maximise the profit. Service motive is a secondary one. 3. Advertisement: Advertisement is [...]
This article will help you to learn about the difference between trade, commerce and industry. Difference Between Trade, Commerce and Industry Trade 1. Trade is that branch of commerce which deals with exchange or transfer of goods and services. 2. The origin and development of trade is the result of the prevalence of barter system. 3. It includes sale and [...]