Commerce Essentials Quiz
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Questions and Answers

What does commerce refer to?

  • Exclusive distribution of goods and services within national economies
  • Limited distribution of goods and services within regional economies
  • Large-scale organized system of activities contributing to the distribution of goods and services (correct)
  • Small-scale unorganized system of activities related to goods and services
  • What are the principal factors giving rise to commercial exchanges?

  • Differences in the distribution of natural resources and division of labour
  • Uniformity in the distribution of natural resources and division of labour
  • Diversity in the distribution of natural resources, differences of human needs and wants, and division of labour along with comparative advantage (correct)
  • Diversity in the distribution of natural resources and uniformity in human needs and wants
  • What does trade consist of?

  • Exchange of goods and services between producers and consumers at online marketplaces
  • Exclusive exchange of finished goods between buyers and sellers
  • Exchange of goods and services between buyers and sellers in return for a price at traditional (or online) marketplaces (correct)
  • Exchange of goods between producers and consumers in traditional marketplaces
  • How is trade categorized?

    <p>Domestic trade, including retail and wholesale as well as local</p> Signup and view all the answers

    What does commerce consist of?

    <p>Trade and aids to trade along the entire supply chain</p> Signup and view all the answers

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