(a) State five functions of a chamber of commerce.
(b) Explain five functions of a trade association.
Explanation
(a) Five functions of Chambers of Commerce:
(i) They assist the development of Commerce, trade and industry.
(ii) They provide support or oppose legislation which they feel will affect their members.
(iii) They provide information to members on their line of businesses.
(iv) They organize trade fairs, exhibitions etc. for the enhance-ment of commercial activities.
(v) They settle disputes among members.
(vi) They provide necessary information on legal, customs and other technical requirements of foreign countries to members.
(vii) They educate members on new techniques and new technology by organizing seminars.
(b) Five functions of Trade Association:
(i) They disseminate information to members.
(ii) They fix prices for their services or products.
(iii) They put political pressure on government for the interest of their members.
(iv) They settle disputes among members.
(v) They provide credit facilities and assistance to members.
(vi) They negotiate with other trade associations on collective basis.
(vii) They educate members on trade activities etc.
(viii) They draw up standard for the practice of their trade.
(ix) They carry out research and publish the report for members use.