Commerce Quiz

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Questions and Answers

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?

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?

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?

<p>Exchange of goods and services between buyers and sellers in return for a price at traditional (or online) marketplaces (D)</p> Signup and view all the answers

What does commerce facilitate?

<p>Smooth, unhindered distribution and transfer of goods and services on a substantial scale and at the right time, place, quantity, quality, and price through various channels (D)</p> Signup and view all the answers

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