Commerce Overview

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Questions and Answers

What are the principal factors that give rise to commercial exchanges?

Technological advancements, global market demand, and advertising strategies
Diversity in the distribution of natural resources, differences of human needs and wants, and division of labour along with comparative advantage (correct)
Government regulations, taxation, and political stability
Currency exchange rates, international treaties, and trade agreements

What does trade encompass according to the text?

International trade fairs, exhibitions, and trade missions
Government-owned trading centers, stock markets, and commodity exchanges
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)
Online marketplaces, social media platforms, and e-commerce websites

What are aids to trade or auxiliary commercial activities according to the text?

Commercial intermediaries, banking and financial services, transportation, packaging, warehousing, communication, advertising and insurance (correct)
Import tariffs, export duties, and customs regulations
Labor unions, industry associations, and business chambers
Government subsidies for export-oriented industries

What is commerce primarily concerned with?

<p>Smooth distribution and transfer of goods and services on a substantial scale at the right time, place, quantity, quality and price (A)</p> Signup and view all the answers