fluctuation a. something that is put in business operation b. to restrict one’s economic activities to certain particular fields c. a payment demanded in accordance with an insurance policyd. after presentation of draft e. upward and downward movements in the economic systemf. the gain from an investment g. the party in the bill of lading to whom the goods are shippedh. considerable desire to make purchase for consumptioni. the main body of a contractj. the company that can make use of an L/C to get paid for its export

on board bill of lading

gross domestic product

joint venture

gold standard

ICC

Explain briefly the theory of comparative advantage.

What is the unique feature of the letter of credit? How does it offer security to the buyer and the seller?

What are the basic principles of insurance that firms must follow when they seek cover for goods?

What are the major differences between counter purchase and buyback?