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Questions and Answers
What are the principal factors that give rise to commercial exchanges?
What are the principal factors that give rise to commercial exchanges?
- Government regulations, international treaties, and market competition
- Diversity in the distribution of natural resources, differences of human needs and wants, and division of labour along with comparative advantage (correct)
- High demand for goods and services, availability of capital, and technological advancements
- Globalization, urbanization, and industrialization
What does commerce consist of?
What does commerce consist of?
- Legal regulations and compliance standards
- Trade and aids to trade along the entire supply chain (correct)
- Consumer feedback and market research
- Manufacturing and production processes
What does trade involve apart from the exchange of goods and services?
What does trade involve apart from the exchange of goods and services?
- Investment in infrastructure and technological development
- Exchange of currencies, commodities, and securities in specialized exchange markets (correct)
- Social responsibility initiatives and community engagement
- Environmental sustainability practices and carbon footprint reduction
What are examples of aids to trade or auxiliary commercial activities?
What are examples of aids to trade or auxiliary commercial activities?
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What is foreign trade inclusive of?
What is foreign trade inclusive of?
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