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What are the principal factors that give rise to commercial exchanges?
What are the principal factors that give rise to commercial exchanges?
- High demand and low supply of goods and services
- Government regulations and policies
- Diversity in the distribution of natural resources, differences of human needs and wants, and division of labour along with comparative advantage (correct)
- Technological advancements and innovations
What does commerce consist of?
What does commerce consist of?
- Trade and aids to trade along the entire supply chain (correct)
- Marketing and advertising strategies
- Manufacturing and production processes
- Only domestic trade
How is trade categorized?
How is trade categorized?
- Based on the size of the companies involved
- By the type of goods and services exchanged
- According to the geographical location of the buyers and sellers
- Into domestic trade, including retail and wholesale as well as local (correct)
What is the definition of trade?
What is the definition of trade?
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What does commerce contribute to?
What does commerce contribute to?
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What are the principal factors that give rise to commercial exchanges?
What are the principal factors that give rise to commercial exchanges?
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What does commerce consist of?
What does commerce consist of?
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How is trade categorized?
How is trade categorized?
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What does commerce contribute to?
What does commerce contribute to?
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What is trade?
What is trade?
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