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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?
- Inflation, recession, and unemployment
- High demand for goods and services, low supply of goods, and technological advancements
- Globalization, government regulations, and consumer preferences
- Diversity in the distribution of natural resources, differences of human needs and wants, and division of labour along with comparative advantage (correct)
What does commerce consist of?
What does commerce consist of?
- Manufacturing and production processes
- Logistics and transportation only
- Financial services and investment banking
- Trade and aids to trade along the entire supply chain (correct)
How is trade categorized?
How is trade categorized?
- International trade only
- Government trade agreements and treaties
- E-commerce and m-commerce
- Domestic trade, including retail and wholesale as well as local (correct)
What is the primary purpose of commerce?
What is the primary purpose of commerce?
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What does commerce contribute to in economies?
What does commerce contribute to in economies?
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What is the primary function of commerce?
What is the primary function of commerce?
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What are the principal factors that contribute to commercial exchanges?
What are the principal factors that contribute to commercial exchanges?
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What does trade involve?
What does trade involve?
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What does commerce consist of along the supply chain?
What does commerce consist of along the supply chain?
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How is trade categorized?
How is trade categorized?
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