Commerce Quiz

Commerce is the large-scale organized system of activities, functions, procedures and institutions that contribute to the distribution and transfer of goods and services.

The diversity in the distribution of natural resources, differences of human needs and wants, and division of labour along with comparative advantage.

Trade consists of the exchange of goods and services between buyers and sellers in return for a price at traditional or online marketplaces.

<p>Trade is categorized into domestic trade, including retail and wholesale, as well as local.</p> Signup and view all the answers

<p>Commerce consists of trade and aids to trade along the entire supply chain.</p> Signup and view all the answers