Commerce Quiz
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Questions and Answers

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

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