Commerce Quiz
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Questions and Answers

What is commerce?

  • The system of exchanging goods and services for free
  • The unorganized system of selling goods and services
  • The process of producing goods and services
  • The organized system contributing to the distribution of goods and services (correct)

    • What are the principal factors that give rise to commercial exchanges?

  • Technological advancements and innovations
  • Diversity in natural resources, human needs and division of labor (correct)
  • Government regulations and policies
  • Global economic trends and fluctuations

    • What does trade involve?

  • Exchange of goods and services between buyers and sellers for a price (correct)
  • Exchange of goods and services for free
  • Exchange of goods only
  • Exchange of services only

    • What does commerce consist of?

    <p>Trade and aids to trade along the entire supply chain</p> Signup and view all the answers

    How is trade categorized?

    <p>Domestic trade, including retail and wholesale as well as local</p> Signup and view all the answers

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