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Questions and Answers
What is commerce?
What is commerce?
- The production of goods and services
- The management of financial transactions
- The extraction of natural resources
- The organized system contributing to the distribution of goods and services (correct)
What are the principal factors that give rise to commercial exchanges?
What are the principal factors that give rise to commercial exchanges?
- Globalization and international treaties
- Technological advancements and market demand
- Diversity in natural resources, differences in human needs, division of labour, and comparative advantage (correct)
- Government regulations and taxation policies
What does trade consist of?
What does trade consist of?
- Transportation of goods from producers to consumers
- Creation of new products and services
- Exchange of goods and services between buyers and sellers for a price at marketplaces (correct)
- Regulation of commercial activities
What does domestic trade include?
What does domestic trade include?
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What is the primary purpose of commerce?
What is the primary purpose of commerce?
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