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Understanding Commerce Systems

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Questions and Answers

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?

Foreign trade (correct)

Domestic trade

Local trade

Regional 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?

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

What does commerce consist of, along the entire supply chain?

<p>Trade and aids to trade</p> Signup and view all the answers

Understanding Commerce Systems

Choose a study mode

Podcast

Questions and Answers

What is the principal factor that gives rise to commercial exchanges?

Which type of trade involves import, export and entrepôt/re-export trades?

What are the auxiliary commercial activities that facilitate trade?

What is categorized into domestic trade, including retail and wholesale as well as local, regional and inter-regional transactions?

What does commerce consist of, along the entire supply chain?

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