Commerce Overview
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Questions and Answers

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?

  • 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?

  • 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?

    <p>Commercial intermediaries, banking and financial services, transportation, packaging, warehousing, communication, advertising and insurance</p> Signup and view all the answers

    What does foreign trade encompass?

    <p>Import, export, and entrepôt/re-export trades</p> Signup and view all the answers

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