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Questions and Answers
What are the principal factors that give rise to commercial exchanges?
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?
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?
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?
What is commerce primarily concerned with?
What does commerce consist of according to the text?
What does commerce consist of according to the text?
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