Questions and Answers
What is the term for the buying and selling of goods and services?
Commerce
Which of the following best defines commerce?
The activity of buying and selling, especially on a large scale
Which of the following is a type of trade that involves the exchange of goods between countries?
International trade
What does the term 'trade' specifically refer to?
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What term is used to describe the process of promoting and selling products or services?
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What is a key characteristic of business trade?
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Study Notes
Commerce and Trade
- The term for the buying and selling of goods and services is commerce.
- Commerce is defined as the buying and selling of goods and services.
- International trade is a type of trade that involves the exchange of goods between countries.
- The term 'trade' specifically refers to the exchange of goods or services for money or other goods or services.
- The process of promoting and selling products or services is referred to as marketing.
- A key characteristic of business trade is the exchange of goods or services for money or other goods or services.
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