Understanding Commerce Systems

Diversity in the distribution of natural resources, differences of human needs and wants, and division of labour along with comparative advantage

Trade is the exchange of goods and services between buyers and sellers in return for a price at traditional or online marketplaces.

Aids to trade are auxiliary commercial activities that facilitate trade, including commercial intermediaries, banking and financial services, transportation, packaging, warehousing, communication, advertising, and insurance.

<p>Foreign trade encompasses import, export, and entrepôt/re-export trades.</p> Signup and view all the answers

<p>Commerce is the large-scale organized system of activities, functions, procedures, and institutions that contribute to the distribution and transfer of goods and services on a substantial scale.</p> Signup and view all the answers