Commerce Quiz

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 factors 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 and innovation
Government regulations and taxation policies
Fluctuations in currency exchange rates

What does commerce consist of?

Consumer preferences and buying behavior
Manufacturing and production processes
Government policies related to business operations
Trade and aids to trade along the entire supply chain (correct)

What is trade categorized into?

International trade only
Domestic trade, including retail and wholesale as well as local (correct)
Import and export trade
E-commerce exclusively

What is the primary purpose of commerce?

<p>Smooth, unhindered distribution and transfer of goods and services on a substantial scale and at the right time, place, quantity, quality and price (B)</p> Signup and view all the answers

What does commerce contribute to within economies?

<p>Smooth, unhindered distribution and transfer of goods and services (C)</p> Signup and view all the answers

Flashcards are hidden until you start studying

Study Notes

What factors give rise to commercial exchanges? What does commerce consist of? What is trade categorized into? What is the primary purpose of commerce? What does commerce contribute to within economies?