Commerce Fundamentals Quiz

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What are the principal factors that give rise to commercial exchanges?

Globalization, urbanization, and demographic changes

Government regulations, taxation policies, and international agreements

Diversity in the distribution of natural resources, differences of human needs and wants, and division of labour along with comparative advantage (correct)

High demand for goods and services, availability of capital, and technological advancements

What does commerce consist of?

Manufacturing and distribution of goods

Trade and aids to trade along the entire supply chain (correct)

Financial transactions and stock market operations

Marketing and advertising strategies

How is trade categorized?

Barter trade and exchange of services

E-commerce and m-commerce

Domestic trade, including retail and wholesale as well as local (correct)

International trade and cross-border transactions

What is the definition of trade?

<p>The exchange of goods and services between buyers and sellers in return for a price at traditional (or online) marketplaces</p> Signup and view all the answers

What does commerce contribute to?

<p>Smooth, unhindered distribution and transfer of goods and services on a substantial scale and at the right time, place, quantity, quality and price</p> Signup and view all the answers