Which of the Following Statements Is True About Managing Export-Import

question 28

Multiple Choice

Which of the following statements is true about managing export-import transactions?

• A) The commercial invoice is the basic contract between exporter and shipper.
• B) National governments sometimes require exporters to obtain license due to national security policy.
• C) Incoterms is the "birth certificate" of the goods being shipped and indicates the country of origin.
• D) Export declaration lists a set of universally accepted terms of sale that specify how the buyer and seller share freight and insurance costs.

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Definitions:

Too Much Labor

A situation where there is an excess supply of labor in the market, leading to unemployment or underemployment.

Sherman Act

A landmark federal statute in the field of United States antitrust law passed in 1890 to prohibit monopolies and restrict business practices that reduce market competition.

Monopolization

The process or state by which a single company gains exclusive control over a market, eliminating competition, and often leading to higher prices and reduced quality for consumers.

Tying Agreements

Contracts where the sale of one product (the tying product) is contingent upon the purchase of a second, distinct product (the tied product).