In the late 1970s, LarceCo, a tea seller, entered the Russian marketplace. LarceCo traded tea-based products for Russian-made vodka because of the lack of a tradable currency in the Soviet Union. This is an example of _____.
A) countertrade
B) outsourcing
C) personal selling
D) licensing
Question 2
An organization of nations formed to promote the free movement of resources and products among its members and to create common economic policies is called a(n)
A) economic community.
B) free trade association.
C) common market.
D) international alliance.
E) none of the above.
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Cost = $99.49; Rate of markup based on cost = 32%. Find the markup and selling price.