4 Questions
Trade is the exchange of goods (including raw materials, intermediate and finished goods) and services between buyers and sellers in return for a price at traditional (or online) marketplaces. It is categorized into domestic ______, including retail and wholesale as well as local.
trade
The ______ 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.
diversity
Commerce consists of trade and ______ to trade along the entire supply chain.
aids
Commerce is the large-scale organized system of activities, functions, procedures and ______ 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.
institutions
Test your knowledge of commerce with this quiz! Explore topics such as supply chain management, marketing, finance, and more. See how much you know about the organized system of activities that facilitate the distribution of goods and services from producers to consumers.
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