Dubai Attracts Numerous Foreign Entrants to Engage in International Business

question 20

Multiple Choice

Dubai attracts numerous foreign entrants to engage in international business.It is an ideal stopping point for air traffic between Europe and Asia,and between Africa and Asia.Which of the following advantages has Dubai honed to attract foreign business?

• A) Late-mover advantage
• B) Location-specific advantage
• C) Export advantage
• D) Cultural advantage

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Definitions:

UCC

A thorough set of legal guidelines for the governance of commercial transactions in the United States is provided by the Uniform Commercial Code.

Clearinghouse Procedure

A process handled by a clearinghouse, which acts as an intermediary between buyers and sellers in financial markets, ensuring the smooth execution of transactions.

Drawer Liability

Drawer liability pertains to the legal responsibility of the person who writes or signs a check or draft to ensure the availability of sufficient funds in the account for the amount specified for payment.

Wrongfully Dishonored

Refers to a situation where a financial institution unjustifiably refuses to pay or accept a negotiable instrument when properly presented.