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Fill in the blank space with the correct word or phrase:

1. .Market segmentation ................ is dividing a market into instinct group of buyers who have
different requirements or buying habit.

2. The point at which cost and expenses and revenue are equal is breakeven.....................
point. 3. The practice of price skimming. involves charging a relatively high price for a short time where a new, innovative, or much-improved product is launched onto a market. 4. A basic price before discounts and special offers are made islist price .. 5. A functional. structure is best suited as a producer of standardized goods and services at large volume and low cost. 6. Balance of payment is a record of a countrys differentiation between a mount of money export and import . 7. A country with consistent deficits will see its intervention in relation to other countries. 8. In cases where foreign currency is earned, a surplus is registered on the balance of payments. 9. Trade balance plus invisible transactions make up the 10. Government control economic conditions according to their ............................................ 11. Payment by bill of exchange to which documents are not attached Clean collection 12. Signed document that orders a person or organization to pay a fixed sum of money on demand or on a specified date Bill of exchange .. 13. The (impossible) situation in which a country is completely self sufficient and has no foreign trade Autarky ..

14. All the money that a company will have to pay to someone else in the future, including taxes, debts, and interest and mortgage payments liabilities .. 15. Anything owned by a business (cash investment, buildings, machines, and so on) that can be used to produce goods or pay liabilitiesassets
16. The reduction in value of a fixed asset during the year it is in use (charged against profits) depreciation. 17.The difference between what a country receives and pays for its exports and imports of goods...............balance of payment ............................................................................................................................ 18. the difference between a countrys total earnings from exports and its total expenditure on imports balance of payment

19. A basic price before discounts and special offers are made list price / list price ..
20.Arrangements between competitors not to lower pricesprice fixing 21.A company s owners ..Shareholders (GB)/ stock holders (US) 22.All the money that a company will have to pay to someone else in the future, including taxes, debts, and interest and mortgage payments. Liabilities 23.Anything owned by a business (cash investment, buildings, machines, and so on) that can be used to produce goods or pay liabilities assets 24. The reduction in value of a fixed asset during the year it is in use (charged against profits). . depreciation 25. (the value of) raw materials, work in progress, and finished products stored ready for sale stock/ inventory-US

26. Exporters are often paid by way of a bill of Exchange 27.Another word for the intermediaries between producer and customer is Middlemen 28.The person who uses something is called a consumer, the person who buy something in a store is a Customer 29.Charging a high price for a new product is known as market skimming pricing ..

30. Selling a new product cheaply in order to get a large market share is called marketpenetration/ penetrating pricing .. II/ Answer the following questions: (3 points) 1. Why would government impede free trade? - Cultural : Prevent historical cultural of the country - Political: Create jobs + protect securities + respond unfair trade + make influence - Economic: protect infant industries + Doing economic strategy. 2. Why would an exporter ask for a confirmed letter of credit? - To ensure that the buyer willing to buy and have ability to pay the amount of money under the supervision of a bank. 3. How a letter of credit works? - Do it buy yourself - IN BOOK 4. How many types of financial statements are there? What purpose are they used for?
- Balance sheet: report the companys financial statement in a specific date - Profit and lost Account: summarizes business activities over a period of time. - Cash flow statement : Record the cash receive and cash payment to follow the activities of company 5. How is a forum made up for a neutral arbitration? Three arbitrators, one chosen by each party and the third, the chairman is selected by both parties. 6. What is standing order? an instruction to a bank to pay fixed sums of money to certain people or organization at stated times 7. What are the advantages of L/C to importer? * Shipment assured. * Documents inspected. * May allow better sales terms. * Easy cash recovery

8. What is the Market segmentation? - Dividing a market into instinct group of buyers who have different requirements or buying habit 9. Categorize the following aspects of marketing according to the well-known 4Ps classification of the marketing mix product, price, promotion and place. - SLIDE 10. How to normally settle a commercial disagreement? They will use arbitration or going to the court. III/ Write an esay or a composition of 500 words: (5 points)