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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?
- Differences of human needs and wants
- Comparative advantage (correct)
- Diversity in the distribution of natural resources
- Division of labour
Which type of trade involves import, export and entrepôt/re-export trades?
Which type of trade involves import, export and entrepôt/re-export trades?
- Foreign trade (correct)
- Domestic trade
- Local trade
- Regional trade
What are the auxiliary commercial activities that facilitate trade?
What are the auxiliary commercial activities that facilitate trade?
- Advertising and insurance
- Banking and financial services (correct)
- Packaging and warehousing
- Transportation and communication
What is categorized into domestic trade, including retail and wholesale as well as local, regional and inter-regional transactions?
What is categorized into domestic trade, including retail and wholesale as well as local, regional and inter-regional transactions?
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What does commerce consist of, along the entire supply chain?
What does commerce consist of, along the entire supply chain?
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