When a Raw Food Product Is Purchased in Its Natural

question 10

Multiple Choice

When a raw food product is purchased in its natural state, this is called _____.

• A) shrinkage
• B) as purchased (A.P.)
• C) pre-portioned servings
• D) edible portion (E.P.)

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Definitions:

World Price

A product or service's worldwide market value, affected by the international balance of supply and demand.

Importer or Exporter

An entity that buys goods and services from a foreign country (importer) or sells them to a foreign country (exporter).

Comparative Advantage

The ability of an individual, firm, or country to produce a good or service at a lower opportunity cost than competitors, underpinning the basis for trade.

World Price

The price of a good or service on the international market, shaped by the global forces of supply and demand.