Commerce and Supply Chain Quiz
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Questions and Answers

What are the principal factors that give rise to commercial exchanges?

  • Currency exchange rates, international treaties, and transportation costs
  • Government regulations, consumer preferences, and technological advancements
  • Diversity in the distribution of natural resources, differences of human needs and wants, and division of labour along with comparative advantage (correct)
  • Price fluctuations, market demand, and advertising strategies

    • What is trade categorized into according to the text?

  • Online trade exclusively
  • International trade only
  • Domestic trade, including retail and wholesale as well as local (correct)
  • Government-regulated trade

    • What does commerce consist of along the entire supply chain?

  • Trade and aids to trade (correct)
  • Manufacturing and distribution
  • Advertising and marketing strategies
  • Consumer feedback and product development

    • What is the definition of commerce according to the text?

    <p>Large-scale organized system of activities, functions, procedures and institutions contributing to the smooth distribution and transfer of goods and services</p> Signup and view all the answers

    What is the primary purpose of trade according to the text?

    <p>Exchange of goods and services between buyers and sellers in return for a price at traditional (or online) marketplaces</p> Signup and view all the answers

    What does Commerce primarily involve?

    <p>Exchange of goods and services</p> Signup and view all the answers

    Which is considered as one of the most popular streams of education along with Commerce?

    <p>Science</p> Signup and view all the answers

    What role does Commerce play in the development of nations and citizens?

    <p>Facilitating trade between nations or within the nation</p> Signup and view all the answers

    What is a crucial task for students after Class 10 according to the text?

    <p>Choosing the right stream of education</p> Signup and view all the answers

    What do a majority of students in India tend to be attracted towards, in terms of education paths?

    <p>Commerce, Science, and Arts</p> Signup and view all the answers

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