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Commerce System Overview

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Questions and Answers

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

Government regulations, taxation policies, and consumer preferences

Globalization, urbanization, and demographic shifts

High demand for goods and services, availability of capital, and technological advancements

Diversity in the distribution of natural resources, differences of human needs and wants, and division of labour along with comparative advantage (correct)

What does trade encompass in commerce?

Domestic trade, including retail and wholesale as well as local, regional and inter-regional transactions and foreign trade, encompassing import, export and entrepôt/re-export trades (correct)

Supply chain management and logistics operations

Quality control measures and product standardization

Online marketing strategies and e-commerce transactions

Which activities facilitate trade in commerce?

Government regulations and trade barriers

Environmental protection agencies and sustainability initiatives

Commercial intermediaries, banking and financial services, transportation, packaging, warehousing, communication, advertising and insurance (correct)

Labour unions and worker cooperatives

What does commerce consist of along the entire supply chain?

Trade and aids to trade Signup and view all the answers

What is the primary function of aids to trade in commerce?

Facilitate trade through activities such as commercial intermediation, banking services, transportation, warehousing, communication, advertising and insurance Signup and view all the answers