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Commerce Overview
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Commerce Overview

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Questions and Answers

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?

  • 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?

  • 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?

    <p>Transportation, packaging, and warehousing</p> Signup and view all the answers

    What is encompassed by foreign trade in commerce?

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

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