(a) Differentiate between a trade association and a chamber of commerce. (b) State four functions...

Explanation

a) Differences Between a Trade Association and a Chamber of Commerce: A trade association is an organization formed by people who engage in similar trade, vocation or profession to protect members' interest while a chamber of commerce is an organization formed by businesses engaged in commerce, manufacturing and agriculture the same geographical area.

(b) Functions of a Chamber of Commerce: (i) lt serves as a guarantor/referee to members. (ii) It settles disputes among members. (iii) It provides advisory services to members. (iv) It educates informs members about latest developments in the trade, vocation or profession. (v) It organizes trade fairs and exhibitions and encourages members to attend. (vi) It regulates the entrý into a trade, profession or vocation (vii) It ensures that the quality of services rendered by members is of acceptable standards. (viii) It draws and imposes codes and ethics on members and sanctions defaulters.

(c) Functions of an Employers' Association: (i) It takes active part in collective bargaining. (ii) It protects members from unfavorable government policies and legislation/services as pressure group (iii) It acts as a medium of communication between mmembers and government as well as groups. (iv) It cooperates with other organizations for the regulation of relations among employers. (v) lt provides advisory services to members. (vi) lt helps in harmonizing relations between employers and employees at the request of members. (vii) It obtains statistics and other data and provide such data to members when required.