CIF Is the Cost Based on Adding a Simple Set

question 54

Multiple Choice

CIF is the cost based on adding a simple set of formula to the price. What does CIF stand for?

• A) Cost in Foreignland
• B) Cumulative infrastructure framework
• C) Cost, insurance and freight
• D) Consumers, involvement and framing.

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Definitions:

Net National Product

The total market value of all final goods and services produced by the residents of a country in a given time period, minus depreciation.

Real GDP

Gross Domestic Product adjusted for inflation, measuring the value of goods and services produced by a country in real terms.

Base Year

A specific year against which economic growth is measured, serving as a standard comparison for financial indices and economic data.

Economic Activity

All actions that involve producing, trading, selling, and buying goods and services within an economy.