The Examples of India and China as Newly Industrializing Countries

question 48

Multiple Choice

The examples of India and China as newly industrializing countries are notable because they demonstrate

• A) that communist countries can develop economically.
• B) that countries with large populations may experience successful economic development.
• C) that economic development may take place without industrialization.
• D) how economies can improve without government investment.

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Definitions:

Destination Contract

A contract specifying that the seller will bear the risk and cost until the goods reach a specific destination.

Nonconforming Goods

Products shipped to a buyer that do not meet the specifications or requirements as stated in the contract.

Breach Of Contract

Occurs when one party fails to fulfill any of its agreed-upon terms or conditions in a contract.

UCC Provisions

Specific clauses or requirements outlined in the Uniform Commercial Code that govern particular aspects of commercial transactions.