Podcast
Questions and Answers
What are the principal factors that give rise to commercial exchanges?
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?
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?
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?
What is the definition of trade?
What does commerce contribute to?
What does commerce contribute to?
Flashcards
Factors in Commercial Exchanges
Factors in Commercial Exchanges
Diversity in resources, human needs, and division of labor influence commerce.
What is Commerce?
What is Commerce?
Commerce consists of trade and aids to trade throughout the supply chain.
Types of Trade
Types of Trade
Trade can be categorized as domestic, including retail and wholesale.
Definition of Trade
Definition of Trade
Signup and view all the flashcards
Contribution of Commerce
Contribution of Commerce
Signup and view all the flashcards
