A trade association consists of members engaged in the same trade while a chamber of commerce is?

Assessment: JAMB UTME - Commerce - 2006 Subject: Commerce

Question 1 Report

A trade association consists of members engaged in the same trade while a chamber of commerce is?
Answer Details
A chamber of commerce is an organization made up of businesses and industries within a specific geographic region. The members of a chamber of commerce are not restricted to a particular industry, but rather include a diverse range of businesses such as retailers, manufacturers, service providers, and more. The primary purpose of a chamber of commerce is to promote and protect the commercial interests of its members, as well as to facilitate economic development and growth in the local community. A trade association, on the other hand, is an organization made up of members who are all engaged in the same trade or industry. The primary purpose of a trade association is to promote the interests of its members in that particular industry or trade.

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