Commerce Quiz

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

Diversity in the distribution of natural resources, differences of human needs and wants, and division of labour along with comparative advantage (correct)

Technological advancements, government regulations, and market demand

Population growth, industrialization, and political stability

Globalization, urbanization, and environmental sustainability

What does commerce consist of along the entire supply chain?

Manufacturing and distribution

Marketing and sales

Logistics and inventory management

Trade and aids to trade (correct)

What is the categorization of trade according to the text?

Direct trade and indirect trade

Domestic trade and foreign trade (correct)

Retail trade and wholesale trade

Physical trade and virtual trade

Which activities are considered aids to trade or auxiliary commercial activities?

<p>Commercial intermediaries, banking and financial services, transportation, packaging, warehousing, communication, advertising, and insurance</p> Signup and view all the answers

What is the definition of trade according to the text?

<p>The exchange of goods and services between buyers and sellers in return for a price at traditional (or online) marketplaces</p> Signup and view all the answers