Commerce Questions and Answers

Trade and aids to trade boost economic activities in an economy, in a way that when people are involved in productive ventures, it leads to the viability of the economy.

Trade involves the buying and selling of goods and services, for a compensation called price while aids to trade are the activities which are necessary for smooth flow of goods from producers to consumers.

Natural resources have to do with the supply, demand, and allocation of the Earth's natural resources that can be used for economic production or consumption. They are subdivided into four categories: mineral and energy resources, soil resources, water resources and biological resources

Capital employed = total assets - current liabilities

Total assets = fixed assets + investments + current assets + fictitious assets = 370,000

Current liabilities = 30,000

Capital employed = 370,000 - 30,000 = 340,000

No explanation has been provided for this answer.

The communication process is the steps we take in order to successfully communicate. Components of the communication process include a sender, encoding of a message, selecting of a channel of communication, receipt of the message by the receiver and decoding of the message.

From the above diagram, Y represents the message while X is the receiver.