Shipping Corporation Enters into Contracts with Distributors and Other Buyers

question 15

Multiple Choice

Shipping Corporation enters into contracts with distributors and other buyers in e-commerce and in traditional commerce.Between Shipping and its customers,the Uniform Electronic Transactions Act applies if the parties agree to conduct transactions by

• A) electronic means.
• B) paper documents.
• C) any of the choices.
• D) verbal communication.

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Definitions:

Comparative Advantage

The principle that a country, individual, or company has over another in producing a particular good or service at a lower opportunity cost, allowing for beneficial trade and specialization.

Industrial North

The region in a country, historically in the United States, known for its heavy industry and manufacturing, contrasting with the agrarian South.

Protective Tariffs

Tariffs imposed by a country to protect its domestic industries from foreign competition by increasing the cost of imported goods.

Trade Deficit

A situation that occurs when a country imports more goods and services than it exports.