Which of the Following Is Not a Payment Method Used

question 16

Multiple Choice

Which of the following is not a payment method used for international trade?

• A) consignment.
• B) open account.
• C) factoring.
• D) draft.
• E) letter of credit.

Explain the concepts of demand price, supply price, and how they determine market equilibrium.

Discuss the implications of removing trade barriers, such as quotas, on market prices and consumer surplus.

Examine the economic rationale and effects of licensing on market participants and overall market outcomes.

Identify the conditions under which price controls and quantity controls may lead to inefficiencies in markets.

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Definitions:

Bone Spur

A bony growth formed on normal bone, often causing pain and discomfort when it rubs against tissues or nerves.

Gift Causa Mortis

A gift made in contemplation of imminent death, which becomes effective only if the donor dies as anticipated.

Lottery Ticket

A piece of paper or a digital token that allows the holder a chance to win a prize in a drawing of lots.

Inter Vivos Gift

A gift given by a living person during their lifetime, as opposed to a bequest or legacy left in a will, which does not take effect until after the donor's death.