Commerce Overview
5 Questions
0 Views

Choose a study mode

Play Quiz
Study Flashcards
Spaced Repetition
Chat to lesson

Podcast

Play an AI-generated podcast conversation about this lesson

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</p> Signup and view all the answers

    What does commerce consist of according to the text?

    <p>Trade and aids to trade along the entire supply chain</p> Signup and view all the answers

    Use Quizgecko on...
    Browser
    Browser