The distribution and exchange of goods and services for the satisfaction of wants is the...
The distribution and exchange of goods and services for the satisfaction of wants is the concern of
- A) Production
- B) Utility
- C) Commerce
- D) Industry
Correct Answer: C) Commerce
Explanation
This question is asking about the area of study that deals with the distribution and exchange of goods and services for the satisfaction of wants.The correct answer is Option C: Commerce.
Commerce is the field that focuses on the buying, selling, and exchanging of goods and services. It includes activities such as trade, transportation, banking, advertising, and retailing.
Production, which is Option A, refers to the process of creating goods and services. It involves converting raw materials into finished products.
Utility, which is Option B, refers to the satisfaction or value that consumers derive from consuming a good or service. It is related to the usefulness or pleasure that a product provides.
Industry, which is Option D, is a broad term that refers to the economic activity of producing goods or services within a specific sector. It encompasses various types of businesses and sectors such as manufacturing, construction, and mining.
In summary, the distribution and exchange of goods and services for the satisfaction of wants is the concern of Commerce.