Commerce Knowledge Challenge Quiz
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Questions and Answers

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

  • High demand for goods and services, availability of financial resources, and technological advancements
  • Government regulations, international agreements, and market competition
  • Globalization, urbanization, and digitalization
  • Diversity in the distribution of natural resources, differences of human needs and wants, and division of labour along with comparative advantage (correct)

    • What does commerce consist of, in addition to trade?

  • Consumer preferences and buying behavior
  • Government regulations and policies
  • Aids to trade or auxiliary commercial activities (correct)
  • Technological advancements and innovation

    • What does foreign trade encompass?

  • Trade of commodities and securities in specialized exchange markets
  • Domestic retail and wholesale transactions
  • Import, export, and entrepôt/re-export trades (correct)
  • Local and regional trade

    • What is categorized into domestic trade?

    <p>Retail and wholesale as well as local, regional and inter-regional transactions</p> Signup and view all the answers

    What are examples of aids to trade or auxiliary commercial activities?

    <p>Banking and financial services, transportation, packaging, warehousing, communication, advertising, and insurance</p> Signup and view all the answers

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