Podcast
Play an AI-generated podcast conversation about this lesson
Download our mobile app to listen on the go
Get App
Questions and Answers
What is the principal factor that gives rise to commercial exchanges?
What is the principal factor that gives rise to commercial exchanges?
- Diversity in the distribution of natural resources
- Comparative advantage (correct)
- Division of labor
- Differences of human needs and wants
What is categorized into domestic trade and foreign trade in commerce?
What is categorized into domestic trade and foreign trade in commerce?
- Retail and wholesale transactions
- Import and export only (correct)
- Local, regional, and inter-regional transactions
- Exchange of currencies, commodities, and securities
What does commerce consist of, along the entire supply chain?
What does commerce consist of, along the entire supply chain?
- Only import and export
- Only aids to trade
- Trade and aids to trade (correct)
- Only trade
What are considered as aids to trade or auxiliary commercial activities?
What are considered as aids to trade or auxiliary commercial activities?
Signup and view all the answers
What is encompassed by foreign trade in commerce?
What is encompassed by foreign trade in commerce?
Signup and view all the answers
Flashcards are hidden until you start studying
