A ________ Is a Request for Payment That Is Created

question 30

Multiple Choice

A ________ is a request for payment that is created when an importer asks its bank to write a letter to an exporter indicating that the importer's bank will honor the request.

• A) draft
• B) bill of lading
• C) banker's acceptance
• D) commercial invoice

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Definitions:

Skimming Pricing

A pricing strategy where a high price is set for a new product to skim maximum revenues layer by layer from the segments willing to pay the high price.

Penetration Pricing

A market strategy where a product is introduced with a low price to attract customers and gain market share before eventually increasing the price.

Demand-oriented

Pricing strategy or manufacturing approach that is guided by the level of demand from consumers or market conditions.

Price Lining

Setting the price of a line of products at a number of different specific pricing points.