Which of the following is true with respect to the international and domestic practices of settling trade transactions?
A. In an international transaction, a formal promise to pay is required before the buyer can obtain the merchandise.
B. In an international transaction, the seller usually ships merchandise on an open account.
C. In a domestic transaction, a draft is used to settle trade transactions.
D. In an international transaction, the exporter sends a commercial invoice that specifies the amount due and the terms of payment to the importer.
E. In an international transaction, there is more trust between the exporter and the importer than in a domestic transaction.
A
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The development of marketing programs that create interplay between consumers and businesses rather than simply sending messages to potential customers is:
A) direct marketing B) interactive marketing C) viral marketing D) cross selling
Which of the following is a feature of a common market?
A. Absence of a common external trade policy with regard to nonmembers B. Free movement of factors of production between member nations C. Establishment of barriers to the free flow of goods between member nations D. Lack of administrative machinery to oversee trade relations with nonmembers E. Mandatory use of a common currency among member nations