Podcast Beta
Questions and Answers
What is commerce?
Commerce is the large-scale organized system of activities, functions, procedures and institutions that directly or indirectly contribute to the smooth, unhindered distribution and transfer of goods and services on a substantial scale and at the right time, place, quantity, quality and price through various channels from the original producers to the final consumers within local, regional, national or international economies.
What are the principal factors that give rise to commercial exchanges?
The diversity in the distribution of natural resources, differences of human needs and wants, and division of labour along with comparative advantage are the principal factors that give rise to commercial exchanges.
What is the role of aids to trade in commerce?
Aids to trade play a role along the entire supply chain in commerce, supporting the trade activities and facilitating the smooth transfer of goods and services.
How is commerce related to the global economy?
Signup and view all the answers
What does trade consist of in commerce?
Signup and view all the answers