Podcast
Play an AI-generated podcast conversation about this lesson
Questions and Answers
What does commerce refer to?
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?
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?
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?
What does commerce consist of, along the entire supply chain?
Signup and view all the answers
What does domestic trade include?
What does domestic trade include?
Signup and view all the answers
