Podcast
Play an AI-generated podcast conversation about this lesson
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?
- Technological advancements, consumer preferences, and market competition
- Diversity in the distribution of natural resources, differences of human needs and wants, and division of labour along with comparative advantage (correct)
- Currency exchange rates, inflation, and unemployment
- Government regulations, taxation, and subsidies
What does commerce consist of?
What does commerce consist of?
- Trade and aids to trade along the entire supply chain (correct)
- Financial investments and stock trading
- Manufacturing and production processes
- Advertising and marketing strategies
How is trade categorized?
How is trade categorized?
- International trade only
- E-commerce and m-commerce
- Domestic trade, including retail and wholesale as well as local (correct)
- Import and export trade exclusively
What is the definition of trade?
What is the definition of trade?
Signup and view all the answers
What does commerce facilitate?
What does commerce facilitate?
Signup and view all the answers
