1. Read the below mini-scenario and answer the corresponding questions: If you know that Philip Morris exported cigarettes to Russia for which it received industrial chemicals as payment. Caterpillar exported earthmoving equipment to Venezuela and the Venezuelan government gave Caterpillar 350,000 tons of iron ore. And Boeing sold jets to Saudi Arabia, paid for with crude oil. (7 marks) 
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3. 1. Describe this Kind of international business transaction. (3 marks) 
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5. 2. Explain the main types of this kind of international business transaction. (4 marks)

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1 This international business transaction is an example of bartering where good... View the full answer