The Threat of Buyers Is Greater If the Products or Services

question 68

True/False

The threat of buyers is greater if the products or services that are being sold to buyers are standard and not differentiated than if the products sold to buyers are highly differentiated.

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Definitions:

Force Majeure Clause

A contract provision that frees parties from liability or obligation when an extraordinary event or circumstance beyond their control occurs.

Commercial Arbitration

A form of arbitration to resolve business disputes outside the courts, where the parties involved appoint an arbitrator(s).

Commercial Invoice

A document used in international trade that details the price, type, and quantity of goods shipped, serving as a demand for payment.