Understanding Commerce Basics

• Technological advancements, consumer preferences, and market competition
• Diversity in the distribution of natural resources, differences of human needs and wants, and division of labour along with comparative advantage (correct)
• Government regulations, taxation policies, and international agreements
• Globalization, outsourcing, and industrialization

• Only domestic trade involving retail and wholesale transactions
• Exclusively foreign trade involving import and export transactions
• 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 in goods but not services

• Environmental protection laws and sustainability initiatives
• Government subsidies, import tariffs, and export quotas
• Labor unions, employee benefits, and workplace safety regulations
• Commercial intermediaries, banking and financial services, transportation, packaging, warehousing, communication, advertising and insurance (correct)

<p>To contribute to the smooth distribution and transfer of goods and services on a substantial scale at the right time, place, quantity, quality and price through various channels from producers to consumers (B)</p> Signup and view all the answers

<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