Commerce: Definition, Importance & Branches


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question 1 of 3

_____ is the process of exchanging products and services.

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1. Which of the following best describes the concept of industry in the world of commerce?

2. Which of the following describes best why commerce is important?

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About This Quiz & Worksheet

See how much you know about commerce with this worksheet/quiz. You'll be answering questions on specifics like what word means to exchange goods and services and how to explain industry.

Quiz & Worksheet Goals

For the quiz you'll be responsible for knowing about these key points:

  • Why commerce is important
  • Aids to trade
  • How a business can reach more customers

Skills Practiced

  • Reading comprehension - ensure that you draw the most important information from the related lesson on commerce
  • Knowledge application - use your knowledge to answer questions about the importance of commerce and how it can help helped along with certain aids
  • Information recall - access the knowledge you've gained regarding the word that means exchanging services and products

Additional Learning

The lesson entitled Commerce: Definition, Importance & Branches will teach you more about these study points:

  • The role of money with regard to commerce
  • Defining an interaction in commerce
  • Specific area of commerce that deals with the exchange of products and services
  • The means that buyers and sellers use to acquire products and services
  • The concepts of risks and uncertainties in commerce