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Questions and Answers
What is commerce?
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?
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?
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?
What does commerce consist of?
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How is trade categorized?
How is trade categorized?
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