Commerce Fundamentals Quiz
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Questions and Answers

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

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