Commerce System Overview

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Questions and Answers

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

Seasonal variations, consumer preferences, and advertising strategies
Diversity in the distribution of natural resources, differences of human needs and wants, and division of labour along with comparative advantage (correct)
Technological advancements, globalization, and market competition
High demand for goods and services, availability of capital, and government regulations

What does commerce consist of?

Trade and aids to trade along the entire supply chain (correct)
Consumer behavior analysis and marketing strategies
Financial investments and stock trading
Manufacturing and distribution of goods

What is categorized into domestic trade?

Commercial intermediaries, banking and financial services
Exchange of currencies, commodities and securities in specialized exchange markets
Import, export and entrepôt/re-export trades
Retail and wholesale as well as local, regional and inter-regional transactions (correct)

What do aids to trade or auxiliary commercial activities include?

<p>Commercial intermediaries, banking and financial services, transportation, packaging, warehousing, communication, advertising and insurance (C)</p> Signup and view all the answers

What does trade involve?

<p>The exchange of goods (including raw materials, intermediate and finished goods) and services between buyers and sellers in return for a price at traditional (or online) marketplaces (A)</p> Signup and view all the answers