The oldest form of trade is _______.
A. switch
B. agency
C. open account
D. barter
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Which one of the following exporting prices is correctly expressed?
A. CNY3.50 CIF Shanghai
B. USD3. 50/piece CIF
C. USD3. 50/piece CIFC2 London
D. RMB3. 50/piece CIFC London
Mercantilism states that nations should accumulate financial wealth by encouraging ______and discouraging_______.
A. investment disinvestment
B. taxation tax rebate
C. exports imports
D. production consumption
Mercantilism states that all raw materials found in a country should be used in domestic manufacture, since finished goods have a_______ value than raw materials.
A. more tangible
B. lower
C. decreased
D. higher
According to Adam Smith in his The Wealth of Nations (1776), trade between nations is beneficial if it is based on_______.
Absolute advantage
B. Comparative advantage
C. Trade surplus
D. Free trade