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Questions and Answers
What is commerce?
What is commerce?
- The marketing and advertising of goods and services
- The direct exchange of goods and services between buyers and sellers
- The process of manufacturing goods and providing services
- The organized system of activities contributing to the distribution of goods and services (correct)
What factors give rise to commercial exchanges?
What factors give rise to commercial exchanges?
- Government regulations and policies
- Diversity in natural resources, differences of human needs and division of labour (correct)
- Technology advancements and globalization
- Consumer demand and supply chain management
What does commerce consist of?
What does commerce consist of?
- Trade and aids to trade along the entire supply chain (correct)
- Manufacturing and distribution of goods
- Financial transactions and investments
- Consumer behavior and market research
How is trade categorized?
How is trade categorized?
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What is the primary purpose of trade?
What is the primary purpose of trade?
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