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How should the Buyer pay the Seller?By _________.
How should the Buyer pay the Seller?
By _________.
How should the Buyer pay the Seller?
By _________.
A.$140
B.$ 120
C.$80
D.$ 60
The best title for the passage is ______.
A.The Inherent Weaknesses of the Price System
B.The Complexities of the Price System
C.Credit Terms in Transactions
D.Resource Allocation and the Public Sector
Packaging is a very important form. of advertising. A package can sometimes motivate people to buy products. For example, a small child might ask for a breakfast food contained in a box with a picture of a TV character. The child is more interested in the picture than in breakfast food. Pictures for children to color or cut out, games printed on a package, or a small gift inside a box also motivate many children to buy products -- or to ask their parents to buy for them.
Some packages suggest that a buyer will get something for nothing. Food products sold in reusable containers are examples of this. Although a similar product in a plain container might cost less, people often prefer to buy the product in a reusable glass or dish, because they believe the container is free. However, the cost of the container is added to the cost of the product.
The size of a package also motivates a buyer. Maybe the package has "Economy Size" or" Family Size" printed on it. This suggests that the larger size has the most product for the least money. But that is not always true. To find it out, a buyer has to know how the product is sold and the price of the basic unit.
The information on the package should provide some answers. But the important thing for any buyer to remember is that a package is often an advertisement. The words and pictures do not tell the whole story. Only the product inside can do that.
"A buyer will get something for nothing "in Paragraph 2 most probably means that().
A.a buyer will not get what he pays for
B.a buyer will get more than what he pays for
C.a buyer will get something useful free of charge
D.a buyer will get more but pay less
A Chinese trading company (the Buyer) entered a contract with a Japanese manufacturer (the Seller) of precision machinery and testing equipment for purchasing 15 sets of production lines and 8 sets of testing devices. The total value of the contract is 400,000 US dollars. Price terms: CFR Shanghai; Time of shipment: the end of September 2013; Payment terms: Buyer opens an irrevocable negotiable letter of credit in full amount two months prior to the date of shipment. Standard arbitration clauses were included in the sales contract. On September 30, 2013, the buyer opened a letter of credit through a bank in favour of the seller and no deposit was made. The seller, on October 8 and 31, shipped the goods in two lots, and negotiated the payment to the negotiating bank. The negotiating bank got repayment from the issuing bank. On October 19, the first lot of 15 sets of production lines arrived at the port of destination – Shanghai. On November 12, the second lot of 8 sets of testing devices arrived at the same port. Since the original copies of the bills of lading for the two lots were not available, the buyer took the goods from the shipping company using the copies of the bills of lading. The provincial commodity inspection bureau inspected the production lines and the testing devices. The inspection report issued by the authority shown that: 4 out of 15 sets of the production lines are not in conformity with the quality terms stipulated in the sales contract. These 4 sets of production lines cannot be used to manufacture standard-conforming products at all. The buyer insisted that the 15 sets of production lines should be used together. Since 4 sets of the production lines were of no use, the remaining 11 sets of qualified production lines should be rejected as well. Therefore, on December 15, 2013, the buyer sent a memo to the Japanese manufacturer, which requested that all 15 sets of production lines should be sent back to Japan. However, the Japanese seller neither signed the memo nor replied to the Chinese buyer’s request. The buyer finally brought the case to the CCPIT, the arbitration institute specified in the sales contract. The demands of the buyer were: 1). Return the 15 sets of the production lines. The seller should fully refund the payment and bear the costs and expenses associated with the return. 2). The 8 sets of the testing devices were late for delivery by six weeks than the stipulated date of shipment. Therefore, the seller should pay the fine of 40,000 US dollars for the delayed delivery. 3). All 15 sets of the production lines were rented out to another Chinese company. Because the 4 sets of faulty production lines, the buyer had already paid compensation of 15,000 US dollars to another Chinese company. The buyer demanded that the seller should bear the loss and pay the buyer 15,000 US dollars. Questions: 1. Other than the discrepancy and claim clauses, what kind of clause regarding dispute settlement should be included in the sales contract of this case? The buyer demanded a fine of 40,000 US dollars for late delivery of the testing devices to be paid by the Japanese manufacturer. If the Japanese manufacturer does pay the fine, could they terminate the contract? Why? 2. How would the arbitration court handle the demands of the buyer? Give your answers for the following subjects a. 15 sets of production lines b. 8 sets of testing devices c. economic loss to the Chinese company which rented the equipment 3. Since the Japanese manufacturer did not sign the memo and respond to the Chinese buyer, could the buyer bring the case to a court in China and sue the Japanese seller for damage and loss first before arbitration? Why? After the arbitration award was made, if the Japanese manufacturer refused to honour the award, what could the Chinese buyer do?
Section B
Directions: There are 2 passages in this section. Each passage is followed by some questions or unfinished statements. For each of them there are four choices marked A, B, C and D. You should decide on the best choice.
Prices determine how resources are to be used. They are also the means by which products and services that are in limited supply are rationed among buyers. The price system of the United States is a very complex network composed of the prices of all the products bought and sold in the economy as well as those of a myriad (无数的) of services, including labor, professional transportation, and public-utility services. The interrelationships of all these prices make up the "system" of prices. The price of any particular product of service is linked to a broad, complicated system of prices in which everything seems to depend more or less upon everything else.
If one were to ask a group of randomly selected individuals to define "price", many would reply that price is an amount of money paid by the buyer to the seller of a product or service or, in other words, that price is the money value of a product or service as agreed upon in a market transaction. This definition is, of course, valid as far as it goes. For a complete understanding of a price in any particular transaction, much more than the amount of money involved must be known. Both the buyer and the seller should be familiar with not only the money amount, but with the amount and quality of the product or service to be exchanged, the time and place at which the exchange will take place and payment will be made, the form. of money to be used, the credit terms and discounts that supply to the transaction, guarantees on the product or service, delivery terms return privileges, and other factors. In other words, both buyer and seller should be fully aware of all the factors that comprise the total "package" being exchanged for the asked-for amount of money in order that they may evaluate a given price.
According to the passage, the price system is related primarily to ______.
A.labor and education
B.transportation and insurance
C.utilities and repairs
D.products and services
If one were to ask a group of randomly selected individuals to define "price", many would reply that price is an amount of money paid by the buyer to the seller of a product or service or, in other words, that price is the money value of a product or service as agreed upon in a market transaction. This definition is, of course, valid as far as it goes. For a complete understanding of a price in any particular transaction, much more than the amount of money involved must be known. Both the buyer anti the seller should be familiar with not only the money amount, but with the amount and quality of the product or service to be exchanged, the time and place at which the exchange will take place and payment will be made, the form. of money to be used, the credit terms and discounts that apply to the transaction, guarantees on the product or service, delivery terms, return privileges, and other factors. In other words, both buyer and seller should be fully aware of all the factors that comprise the total "package" being exchanged for the asked-for amount of money in order that they may evaluate a given price.
What is the best title for the passage?
A.The Inherent Weaknesses of the Price System
B.The Complexities of the Price System
C.Credit Terms in Transactions
D.Resource Allocation and the Public Sector
A. a buyer will not get what he pays for
B. a buyer will get more than what he pays for
C. a buyer will get something useful free of charge
D. a buyer will get more but pay less
If one were to ask a group of randomly selected individuals to define "price", many would reply that price is an amount paid by the buyer to the seller of a product or service, or the money value of a product or service as agreed upon in market transaction. This definition is, of course, valid as for it goes. For a complete understanding of a price in any particular transaction, much more than the money involved must be known. Both the buyer and seller should be familiar with not only the money amount, but with the amount and quality of the product or service to be exchanged, the time and place at which the exchange will take place and payment will be made, the form. of money to be used, the credit terms and discounts that apply to the transaction, guarantees on the product or service, delivery terms, return privilege, and other factors. In other words both the buyers and sellers should be fully aware of all the factors that compose the total "package" being exchanged for the asker for amount of money in order that they may evaluate a given price.
What is the best title for the passage?
A.The Inherent Weaknesses of the Price System.
B.Credit Terms in Transactions.
C.Resource Allocation and the Public Sector.
D.The Complexities of the Price System.
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