5 Questions
What is commerce?
Commerce is the large-scale organized system of activities, functions, procedures and institutions that directly or indirectly contribute to the smooth, unhindered distribution and transfer of goods and services on a substantial scale and at the right time, place, quantity, quality and price through various channels from the original producers to the final consumers within local, regional, national or international economies.
What are the principal factors that give rise to commercial exchanges?
The diversity in the distribution of natural resources, differences of human needs and wants, and division of labour along with comparative advantage are the principal factors that give rise to commercial exchanges.
What does commerce consist of?
Commerce consists of trade and aids to trade along the entire supply chain.
How is trade categorized?
Trade is categorized into domestic trade, including retail and wholesale as well as local.
What is trade?
Trade is the exchange of goods and services between buyers and sellers in return for a price at traditional (or online) marketplaces.
Test your knowledge of commerce with this quiz! Explore topics such as supply chain management, distribution channels, pricing strategies, and more. See how well you understand the organized system of activities and institutions that contribute to the transfer of goods and services from producers to consumers.
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