Commerce Fundamentals Quiz

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Questions and Answers

What does commerce refer to?

  • The legal regulations governing business operations
  • The financial transactions between businesses and consumers
  • The process of manufacturing goods and providing services
  • The organized system of activities contributing to the distribution of goods and services (correct)

What does trade involve?

  • Advertising and marketing of products
  • Financial investments in businesses
  • Transportation of goods from manufacturers to retailers
  • Exchange of goods and services between buyers and sellers for a price (correct)

What factors give rise to commercial exchanges?

  • Diversity in the distribution of natural resources, human needs and division of labour (correct)
  • Market demand and consumer preferences
  • Technological advancements and innovation
  • Government regulations and taxation policies

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

<p>Trade and aids to trade (B)</p> Signup and view all the answers

What does domestic trade include?

<p>Retail and wholesale trade within a country (D)</p> Signup and view all the answers

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