What Is a Global Commodity Chain

question 72

Multiple Choice

What is a global commodity chain?

• A) a form of global trade designed to minimize tariffs for importers of products
• B) a global system of stores or franchises,such as McDonald's restaurants
• C) a form of marketing with the goal of taking a product to as many countries as possible
• D) a worldwide network of labour and production resulting in a finished product

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Definitions:

Invalid Assignment

The transfer of rights or benefits under a contract that is not permitted or recognized by law, rendering it void.

Consideration

Something of value exchanged between parties in a contract, required for the agreement to be legally binding.

Liability Insurance

A form of insurance coverage that protects an individual or business from the risk associated with being found legally liable for various kinds of wrongs such as accidents or injuries.

Implied Warranty

A legal term referring to a warranty that is not expressly stated but is assumed by law to exist in a sale.