Which of the Following Is a Common Way in Which

question 31

Multiple Choice

Which of the following is a common way in which a buyer may breach a contract?

• A)By wrongfully returning goods
• B)By agreeing to an extension of the credit period
• C)By delivering a faulty product
• D)By refusing to accept goods which are obviously damaged

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Definitions:

International Specialization

A method where countries or regions focus on producing goods and services they are most efficient at, to enhance global trade efficiency.

Economies Of Scale

The reduction in cost per unit of goods or services produced as the scale of output increases.

World Price

The international market price of a commodity, determined by global supply and demand conditions.

Per-Unit Tariff

A specific tax levied on each unit of a good imported into a country, as opposed to a percentage of the value.