5 Questions
What is commerce?
Commerce is the large-scale organized system of activities, functions, procedures and institutions that contribute to the distribution and transfer of goods and services.
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.
What does trade consist of?
Trade consists of the exchange of goods and services between buyers and sellers in return for a price at traditional or online marketplaces.
How is trade categorized?
Trade is categorized into domestic trade, including retail and wholesale, as well as local.
What does commerce consist of?
Commerce consists of trade and aids to trade along the entire supply chain.
Test your knowledge of commerce with this quiz! Explore topics such as supply chain management, marketing strategies, consumer behavior, and more. See how well you understand the functioning and dynamics of the large-scale organized system that drives the distribution and transfer of goods and services.
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