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</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</p> Signup and view all the answers

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