Final answer:
A trade association is a voluntary nonprofit organization of independent and competing business units engaged in the same industry or trade, formed to help solve industry problems, promote progress, and enhance service.
Step-by-step explanation:
A trade association is a voluntary nonprofit organization of independent and competing business units engaged in the same industry or trade, formed to help solve industry problems, promote progress, and enhance service.
Trade associations, also known as industry trade groups, work to influence public policy, lobby legislators, and promote the interests of their members. Examples of trade associations include the Aerospace Industries Association and the Alliance of Automobile Manufacturers. These associations provide a platform for businesses to collaborate and address common concerns.