Podcast
Play an AI-generated podcast conversation about this lesson
Questions and Answers
What does commerce consist of?
What does commerce consist of?
- Consumer behavior and market research
- Financial investments and stock trading
- Manufacturing and production processes
- Trade and aids to trade along the entire supply chain (correct)
What are the principal factors that give rise to commercial exchanges?
What are the principal factors that give rise to commercial exchanges?
- Diversity in the distribution of natural resources, differences of human needs and wants, and division of labour along with comparative advantage (correct)
- Supply chain management, market demand, and price fluctuations
- Globalization, digitalization, and industrialization
- Government regulations, consumer preferences, and technological advancements
What is categorized under trade?
What is categorized under trade?
- Service industry transactions only
- Government procurement and public sector transactions
- E-commerce activities exclusively
- Domestic trade, including retail and wholesale as well as local, regional and inter-regional transactions, and foreign trade encompassing import, export, and entrepôt/re-export trades (correct)
What are considered aids to trade or auxiliary commercial activities?
What are considered aids to trade or auxiliary commercial activities?
Signup and view all the answers
What does foreign trade encompass?
What does foreign trade encompass?
Signup and view all the answers
