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Understanding Commerce Systems
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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 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?

  • 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?

  • Foreign trade
  • Domestic trade
  • Entrepreneurship
  • Trade (correct)

    • Which activity facilitates trade by providing services such as transportation, communication, advertising, and insurance?

    <p>Auxiliary commercial activities</p> Signup and view all the answers

    What type of trade encompasses import, export, and entrepôt/re-export trades?

    <p>Foreign trade</p> Signup and view all the answers

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