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Commerce satisfies human wants by facilitating the exchange of goods and services that meet the diverse needs and desires of individuals. It creates a marketplace where producers and consumers interact, allowing for the efficient distribution of resources. Through competition, commerce drives innovation and improves product quality, ensuring that consumers have access to a variety of choices. Ultimately, it helps in optimizing satisfaction by matching supply with demand.
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What are the roles of commerce in satisfying human wants?
what are the role of commerce in satisfying human wants
What is commerce and what are aids to trade?
commerce is a branch of human activities which distribute goods and services and full fill human need and wants
Show how commercial activities assist the satisfaction of human wants?
The commercial activities like buying help people satisfy their human wants.
What are the solutions of human wants are unlimited?
The solution of unlimited human wants are unlimited resources to satisfy those wants. Unfortunately, resources are limited and they will always be limited in comparison.
The use of goods and services to satisfy human wants and needs is known as what?
consumption
The power of a good or service to satisfy a human need is called utility?
To satisfy human "wants" and not "needs"
What are the roles of commerce in satisfying human wants?
what are the role of commerce in satisfying human wants
What is commerce and what are aids to trade?
commerce is a branch of human activities which distribute goods and services and full fill human need and wants
Show how commercial activities assist the satisfaction of human wants?
The commercial activities like buying help people satisfy their human wants.
What are the solutions of human wants are unlimited?
The solution of unlimited human wants are unlimited resources to satisfy those wants. Unfortunately, resources are limited and they will always be limited in comparison.
The use of goods and services to satisfy human wants and needs is known as what?
consumption
The process of creating goods and services to satisfy human wants and needs?
production
The process of creating goods and services to satisfy human wants and needs is?
It is called production.
What is the importance of capital in satisfying human needs and wants?
when you invest your capital, you create the products which will satisfy human needs and wants you can also be creating needs and wants.. but that's an other story
What is direct and indirect demand?
Demanded goods which satisfy human wants directly is called direct demand.
What are the Four key economic problems?
economic issues arise only due to two reasons. 1. Human wants are unlimited. 2. Means to satisfy human wants are scarce.
Why do all economies have similar central problems?
Economic problem arises mainly due to two reasons- (i) human wants are unlimited (ii) means to satisfy human wants are scarce.
