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Questions and Answers
What does commerce consist of?
What does commerce consist of?
Commerce consists of trade and aids to trade along the entire supply chain.
What is the difference between domestic trade and foreign trade?
What is the difference between domestic trade and foreign trade?
Domestic trade includes retail and wholesale as well as local, regional and inter-regional transactions, while foreign trade encompasses import, export and entrepôt/re-export trades.
What are the principal factors that give rise to commercial exchanges?
What are the principal factors that give rise to commercial exchanges?
The diversity in the distribution of natural resources, differences of human needs and wants, and division of labour along with comparative advantage.
What are some examples of aids to trade or auxiliary commercial activities?
What are some examples of aids to trade or auxiliary commercial activities?
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Define trade.
Define trade.
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