Companywide Standardized Form Contracts Imposed on a "Take-It-Or-Leave It" Basis

question 8

True/False

Companywide standardized form contracts imposed on a "take-it-or-leave it" basis by a party with superior bargaining strength are called contracts of collusion.

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Definitions:

Merchandise Trade Balance

The difference between the value of merchandise exports and the value of merchandise imports.

Services Trade Balance

The difference in value between a country's exported and imported services, indicating whether a country is a net exporter or importer of services.

Trade Balance

The difference between a country's exports and imports of goods and services.

Colonial Power

A country that establishes control over foreign territories to exploit them economically, politically, and culturally.