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Questions and Answers
What is the principal factor that gives rise to commercial exchanges according to the passage?
What is the principal factor that gives rise to commercial exchanges according to the passage?
- Diversity in the distribution of natural resources (correct)
- Local, regional, and international economies
- Division of labour
- Comparative advantage
What does commerce consist of along the entire supply chain?
What does commerce consist of along the entire supply chain?
- Packaging and warehousing
- Domestic and foreign trade
- Trade and aids to trade (correct)
- Banking and financial services
What is another term for the exchange of goods and services between buyers and sellers in return for a price at traditional or online marketplaces?
What is another term for the exchange of goods and services between buyers and sellers in return for a price at traditional or online marketplaces?
- Foreign trade
- Domestic trade
- Entrepreneurship
- Trade (correct)
Which activity facilitates trade by providing services such as transportation, communication, advertising, and insurance?
Which activity facilitates trade by providing services such as transportation, communication, advertising, and insurance?
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What type of trade encompasses import, export, and entrepôt/re-export trades?
What type of trade encompasses import, export, and entrepôt/re-export trades?
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