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Questions and Answers
What is commerce?
What is commerce?
- The direct exchange of goods and services between producers and consumers
- The transportation of goods from one place to another
- The organized system of activities contributing to the distribution of goods and services (correct)
- The process of manufacturing goods for sale
What are the principal factors giving rise to commercial exchanges?
What are the principal factors giving rise to commercial exchanges?
- Fluctuations in currency exchange rates, inflation, and interest rates
- Advancements in technology, globalization, and market demand
- Government regulations, taxation, and subsidies
- Diversity in the distribution of natural resources, differences of human needs and wants, and division of labour (correct)
What does commerce consist of?
What does commerce consist of?
- Marketing and advertising strategies
- Consumer feedback and product improvement
- Manufacturing and production processes
- Trade and aids to trade along the entire supply chain (correct)
How is trade categorized?
How is trade categorized?
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What is the primary purpose of trade?
What is the primary purpose of trade?
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