Commerce Systems Overview

Market demand, consumer preferences, and advertising strategies

Global economic policies, international treaties, and cultural exchange

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

Presence of commercial institutions, government regulations, and technological advancements

Only domestic trade within local and regional economies

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)

Trade limited to traditional marketplaces without online transactions

Foreign trade exclusively involving import and export transactions

Technological advancements in production processes

Government regulations, trade policies, and labor laws

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

Consumer preferences, product innovation, and market competition

<p>Large-scale organized system of activities contributing to the distribution and transfer of goods and services on a substantial scale through various channels from producers to consumers</p> Signup and view all the answers

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