The Draft Is the Instrument Normally Used in International Commerce

question 22

Multiple Choice

The draft is the instrument normally used in international commerce to:

• A) transfer product.
• B) prove ownership.
• C) transfer title.
• D) initiate the sale.

---

Definitions:

Decreasing-Cost Industry

An industry where increased production leads to lower costs per unit, typically due to economies of scale or technological improvements.

Slopes Upward

A term used to describe a line or curve on a graph that increases in value as it moves from left to right.

Long-Run Supply Curve

A graphical representation showing how the quantity supplied by an industry or a firm changes over time when all input levels, including physical capital, are variable.

Total Market Output

The total quantity of goods or services produced and offered for sale within a market by all firms.