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Questions and Answers
What is commerce?
What is commerce?
- The system of transporting goods from producers to consumers
- The process of selling goods and services
- The organized system contributing to the distribution of goods and services (correct)
- The system of production and consumption of goods and services
What are the principal factors giving rise to commercial exchanges?
What are the principal factors giving rise to commercial exchanges?
- Diversity in natural resources, differences in human needs, and division of labor (correct)
- Economic growth, globalization, and market competition
- Government regulations, taxation, and international trade agreements
- Availability of goods and services, demand from consumers, and technological advancements
What does commerce consist of?
What does commerce consist of?
- Marketing and advertising activities
- Financial transactions and investments
- Production and consumption of goods and services
- 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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