True or False
Foreign Trade is comprised of: Export, Import and Transit Trade
True
Accommodation is an example of a ________ want.
Basic
Three fields that commercial services can be subdivided into: Trade, _____________, and Business intermediaries
Auxiliaries to trade
Inferior
Bad, lower quality, fake
True or False
The exporter buys from foreign countries and the importer sells to foreign countries
False
The importer buys from foreign countries and the exporter sells to foreign countries
In transit trade an importing country buys goods in a foreign country and sells them to a foreign country.
False
An exporting country buys goods in a foreign country and sells to a foriegn country.
The processing and manufacturing industry is part of the _________________ level of production
Secondary
The _________ INCOTERM represents the Buyers maximum obligation
EXW
Comes into existence
to be come active, become valid, become real
Define the word:
Seaworthy packing
Specific packing that can be specially prepared for sending (shipping) items on a ship
The processing and manufacturing industry is about processing semi-finished and finished materials and manufacturing raw goods
False
Its about processing raw materials and manufacturing semi- finished and finished goods.
A Specific Inquiry Includes:
quantity, description of goods, terms of delivery, terms of payment and ______________
Time of Delivery
To conclude a sales contract the seller has to deliver the goods in __________condition and________.
Immaculate condition and punctually.
To Expire
To come to the end of the period of validity. To no longer be valid or active.
A supplier who does not wish to be bound to his offer must expressly state this by using such words as:
Without ______________
and
Subject to our final ___________________
Engagement
Confirmation
Two fundamental factors in production are:
Costs and Raw Materials
False
Labour and Raw Materials
Exchanges are central marketplaces for:
Securities, Foreign Exchange, ________________, Insurance contracts, Shipping space
Raw Materials
A contract comes into existence when a __________ __________ is accepted _________________.
Definite Offer, Unconditionally
Corresponds
To have a close similarity; match or agree almost exactly.
The Passing Point of Cost for DDP is...
In the importing country
An example of an adjustment that a seller might offer to a buyer would include the following:
Making a return
Granting a rebate
Paying damages
FALSE
Making a replacement
A special type of enquiry which is used when authorities or firms have a demand for the supply of specified goods or for the execution of specified work is called ___________________________
Invitation to tender
If a buyer fails to pay punctually, the seller will request payment in a _________________ . (two possible answers)
Reminder or Collection letter
Business Intermediaries
Commission agents, agents, brokers
People who assist customers in the performance of business on behalf of their companies/businesses
True of False
Foreigner Exchange is the global market where national currencies are traded
False
International