Commerce Knowledge 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, low production costs, and government regulations
Barter system, currency exchange, and economic policies
Technological advancements, globalization, and market competition
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?

Consumer behavior and market research
Manufacturing and distribution processes
Advertising and promotional activities
Trade and aids to trade along the entire supply chain (correct)

How is trade categorized?

E-commerce and brick-and-mortar trade
Domestic trade, including retail and wholesale as well as local (correct)
International trade only
Supply chain management and logistics

What contributes to the smooth distribution and transfer of goods and services in commerce?

<p>Large-scale organized system of activities, functions, procedures and institutions (B)</p> Signup and view all the answers

What is the definition of trade?

<p>The exchange of goods and services between buyers and sellers in return for a price at traditional (or online) marketplaces (A)</p> Signup and view all the answers

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