Folexa Is the Largest Producer of Spices in the World,and

question 24

Multiple Choice

Folexa is the largest producer of spices in the world,and its location is an added advantage to its business.It is surrounded by six trading countries.Besides,located close to the southern region of the continent,it attracts business from the neighboring continents as well.Such clustering of economic activities is referred to as _____.

• A) agglomeration
• B) internalization
• C) the contagion effect
• D) the demonstration effect

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Definitions:

Performance

Execution or completion of duties or tasks as required or agreed upon in a contract.

Material Breach

A significant failure to perform a part of a contract that permits the other party to either demand performance or terminate the agreement.

Buyer's Obligations

The duties and responsibilities a buyer assumes in a transaction, such as paying the purchase price and complying with the terms of the agreement.

Contract

An agreement between two or more parties creating enforceable obligations.