Podcast
Questions and Answers
What are the principal factors that give rise to commercial exchanges?
What are the principal factors that give rise to commercial exchanges?
- The diversity in the distribution of natural resources
- The differences of human needs and wants
- The division of labor along with comparative advantage
- All of the above (correct)
Which of the following best describes commerce?
Which of the following best describes commerce?
- The transfer of goods and services within local economies
- The exchange of goods and services between buyers and sellers (correct)
- The distribution of natural resources
- The division of labor and comparative advantage
What does trade involve?
What does trade involve?
- The transfer of goods and services within local economies
- The division of labor and comparative advantage
- The distribution of natural resources
- The exchange of goods and services between buyers and sellers (correct)
What is domestic trade?
What is domestic trade?
What are aids to trade?
What are aids to trade?
Flashcards
Commerce
Commerce
The exchange of goods and services between buyers and sellers.
Trade
Trade
The exchange of goods and services between buyers and sellers.
Domestic Trade
Domestic Trade
The exchange of goods and services within a country.
Aids to Trade
Aids to Trade
Signup and view all the flashcards
Principal Factors of Commercial Exchanges
Principal Factors of Commercial Exchanges
Signup and view all the flashcards
