A ____ Is Similar in Nature to a Domestic Bill

question 47

Multiple Choice

A ____ is similar in nature to a domestic bill of lading and summarizes the entire transaction.

• A)shipper's letter of instruction
• B)shipper's export declaration
• C)commercial invoice
• D)certificate of origin

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Definitions:

Labor-intensive

Refers to a type of industry or process that requires a large amount of human labor to produce goods or services, as opposed to being heavily automated.

Comparative Advantage

The ability of an entity to produce a good or service at a lower opportunity cost than its competitors.

Specialization

The process of focusing on and becoming expert in a particular subject or skill, often resulting in increased efficiency and productivity in economic contexts.

Exchange

The act of giving one thing and receiving another (especially of the same type or value) in return.