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Questions and Answers
What is the principal factor that gives rise to commercial exchanges?
What is the principal factor that gives rise to commercial exchanges?
- Distribution of natural resources
- Differences in human needs and wants
- Division of labor
- Comparative advantage (correct)
Which type of trade involves import, export, and entrepôt/re-export trades?
Which type of trade involves import, export, and entrepôt/re-export trades?
- Inter-regional trade
- Regional trade
- Foreign trade (correct)
- Domestic trade
What are aids to trade or auxiliary commercial activities that facilitate trade?
What are aids to trade or auxiliary commercial activities that facilitate trade?
- Healthcare services
- Transportation (correct)
- Manufacturing
- Technology development
What is the exchange of goods and services between buyers and sellers in return for a price at traditional (or online) marketplaces categorized as?
What is the exchange of goods and services between buyers and sellers in return for a price at traditional (or online) marketplaces categorized as?
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What are the activities, functions, procedures, and institutions that contribute to the smooth distribution and transfer of goods and services on a substantial scale called?
What are the activities, functions, procedures, and institutions that contribute to the smooth distribution and transfer of goods and services on a substantial scale called?
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