What is commerce?

• The storage of goods in warehouses

• The transportation of goods between countries

• The production of goods for sale

• All activities connected to trade

What is trade?

• The manufacturing of goods for sale

• The distribution of goods to consumers

• The buying and selling of goods for money

• The storage of goods in warehouses

What is the difference between home trade and international trade?

• Home trade involves the sale of luxury items, while international trade involves the sale of essential goods

• Home trade is done online, while international trade is done in physical stores

• Home trade involves the sale of services, while international trade involves the sale of goods

• Home trade occurs within a country, while international trade occurs between different countries

What are some examples of services to trade?

• Banking, insurance, technology support

• Technology support, communication, marketing

• Warehousing, transport, banking, insurance

• Transport, communication, marketing

What is the role of wholesalers in the distribution chain?

• They provide technology support and communication services to retailers

• They produce goods and sell them directly to consumers

• They sell products or services in small quantities to end-users at retail prices

• They buy goods in bulk from manufacturers and sell them in smaller quantities at wholesale prices to retailers

What are discount stores known for?

• Providing high-end customer service and display

• Selling luxury items at high prices

• Selling products or services in small quantities to end-users at retail prices

• Buying centrally in bulk and selling goods at discounted prices

What are supermarkets mainly known for?

• Selling luxury items at high prices

• Selling food products and household items

• Selling products or services in small quantities to end-users at retail prices

• Providing high-end customer service and display

What does GDP stand for?

• General Development Plan

• Gross National Product

• Gross Domestic Product

• Global Distribution Process

What does GNP per capita measure?

• A country's GNP divided by the total of its population

• The total economic output of a country

• The total value of goods and services produced in a country divided by the total of its population

• The total value of goods and services produced in a country in a year

What has played a part in the decline of the middle man in commerce?

• Radio commercials

• Print media

• Television advertising

• The Internet