COMMERCE

As a factor of production, land includes

• labour force and raw materials

• raw materials and capital invested

• machineries and natural resources

• natural resources , plants, animals., the sea and outer space

In the direct channel of distribution

• goods are often sold to consumers via the internet and factory outlets

• goods are sold to customers only in supermarkets

• goods are made available at the warehouse

• goods are sold through intermediaries

A family-run shop is an example of

• wholesale business

• retail business

• chain store

• department store

E-commerce

• is a great advantage for companies but does not help consumers

• can help both companies and consumers

• is limited to online transactions between companies

• is not concerned with the supply of services

Information technology has changed the traditional way of doing business

• T

• F

Raw materials are not obtained from primary production

• T

• F

The factors of production are the elements and human resources needed in the production process

• T

• F

Commerce is a branch of trade

• T

• F

Commerce is concerned with the sale and purchase of goods but not with their distribution and the services associated with their movement from the place of production to the final consumer

• T

• F

Retail business includes department stores

• T

• F