Letters of Credit Are Popular Among Traders Because Most of the Risks

question 41

Multiple Choice

Letters of credit are popular among traders because most of the risks are assumed by ________.

• A)distributors
• B)importers
• C)exporters
• D)banks

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Definitions:

Egocentric Fallacy

The erroneous belief that one's own personal experiences or values are universally shared by others.

Ethnocentric Fallacy

The mistaken belief that one's own cultural or ethnic group is superior to others, often leading to misjudgment and bias.

Underrepresented

describes groups or individuals that have less representation in certain areas or fields than their numbers or importance would suggest.

Ethnic Groups

Refers to communities or populations sharing common cultural attributes, ancestry, language, history, society, culture, or nation.