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When a country both exports and imports a type of commodity,the country is engaged in
Incidental Damages
Incidental damages refer to secondary or peripheral expenses that result from a breach of contract, such as the costs incurred to mitigate losses or to cover additional operational expenses.
Conforming Goods
Goods that meet the specifications and requirements as stated in a purchase contract.
Risk of Loss
Refers to the legal responsibility for the damage or destruction of goods, typically determined by the terms of sale or agreement between parties.
Substitute Goods
Products or services that can replace each other in use, due to their similar characteristics or functionalities.
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