1. Briefly describe the history of Incoterms, including a brief synopsis of each. 2.What are the differences between pol

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1. Briefly describe the history of Incoterms, including a brief synopsis of each. 2.What are the differences between pol

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1. Briefly describe the history of Incoterms, including a briefsynopsis of each.
2.What are the differences between political riskand commercials risks of nonpayment? Provide anexample.
3.Discuss Foreign exchange rates and how do theyimpact foreign trade? Provide an example
4.What possible risk management strategies canan importer/exporter follow? Explaineach strategy’s advantage and disadvantage from theperspective of a small exporter.
5.What are non-tariff barriers? Why are they used? Givea few examples.
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