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Questions and Answers
What is commerce?
What is commerce?
- The transportation of goods from producers to consumers
- The organized system of activities contributing to the distribution of goods and services (correct)
- The process of manufacturing goods for sale
- The exchange of goods and services for free
What are the principal factors that give rise to commercial exchanges?
What are the principal factors that give rise to commercial exchanges?
- Low cost of production
- Abundance of financial institutions
- Diversity in natural resources, differences of human needs and division of labour (correct)
- High demand for goods and services
What does commerce consist of?
What does commerce consist of?
- Financial transactions between businesses
- Trade and aids to trade along the entire supply chain (correct)
- Only domestic trade
- Manufacturing and production processes
How is trade categorized?
How is trade categorized?
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What is trade in commerce?
What is trade in commerce?
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