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FOB (free on board) is a term in international commercial law specifying at what point respective obligations, costs, and risk involved in the delivery of goods shift from the seller to the buyer under the Incoterms standard published by the International Chamber of Commerce. FOB is only used in non-containerized sea freight or inland waterway ...
Freight rate. A freight rate (historically and in ship chartering simply freight[ 1]) is a price at which a certain cargo is delivered from one point to another. The price depends on the form of the cargo, the mode of transport ( truck, ship, train, aircraft ), the weight of the cargo, and the distance to the delivery destination.
Consumer sovereignty in production is the controlling power of consumers, versus the holders of scarce resources, in what final products should be produced from these resources. It is sometimes used as a hypothesis that the production of goods and services is determined by the consumers' demand (rather than, say, by capital owners or producers).
Containerization, also referred as container stuffing or container loading, is the process of unitization of cargoes in exports. Containerization is the predominant form of unitization of export cargoes, as opposed to other systems such as the barge system or palletization. [ 2] The containers have standardized dimensions.
Definition and functions. A freight forwarder is an entity who co-ordinates and organizes the movement of shipments on behalf of a shipper (party that arranges an item for shipment) by liaising with carriers. [ 3] A carrier is an entity that actually transports goods and may use a variety of shipping modes, including ships, airplanes, trucks ...
Economics (/ ˌ ɛ k ə ˈ n ɒ m ɪ k s, ˌ iː k ə-/) [1] [2] is a social science that studies the production, distribution, and consumption of goods and services. [3] [4] Economics focuses on the behaviour and interactions of economic agents and how economies work.
A warehouse in South Jersey, a U.S. East Coast epicenter for logistics and warehouse construction outside Philadelphia, where trucks deliver slabs of granite [1]. Logistics is the part of supply chain management that deals with the efficient forward and reverse flow of goods, services, and related information from the point of origin to the point of consumption according to the needs of customers.
An economic system, or economic order, [ 1] is a system of production, resource allocation and distribution of goods and services within a society. It includes the combination of the various institutions, agencies, entities, decision-making processes, and patterns of consumption that comprise the economic structure of a given community.