Export Administration Lecture 1
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Questions and Answers

What is the course code for Export Administration?

  • PAHS/ADMIN 056
  • PAHS/ADMIN 054 (correct)
  • PAHS/ADMIN 053
  • PAHS/ADMIN 055

    • Who is the lecturer for Export Administration?

  • Ebenezer Odame Darkwah (correct)
  • Ebenezer Odame Darko
  • Ebenezer Odame Darkoah
  • Ebenezer Odame Darku

    • What is the foundation of the Export Administration course?

  • Processes of internationalization (correct)
  • Export competitiveness
  • Institutional setting of exports
  • International trade

    • In which session is the topic 'Competitiveness of Firms' covered?

    <p>Session 2</p> Signup and view all the answers

    What is the academic year for the course?

    <p>2023/2024</p> Signup and view all the answers

    What college is the School of Continuing and Distance Education part of?

    <p>College of Education</p> Signup and view all the answers

    What is one of the ways exports help a country's balance of payments position?

    <p>By solving and improving it</p> Signup and view all the answers

    What is a benefit of exports to the exporting firm?

    <p>Raised profit margin</p> Signup and view all the answers

    What is a benefit of exports to the exporting country?

    <p>Increased regional development</p> Signup and view all the answers

    What is one of the ways exports help a country?

    <p>By developing international ties</p> Signup and view all the answers

    What is a benefit of export administration?

    <p>Improved organizational efficiency</p> Signup and view all the answers

    What is one of the uses of foreign exchange earned from exports?

    <p>To develop other parts of the country</p> Signup and view all the answers

    What is a benefit of exports to the international market?

    <p>Increased goodwill and reputation</p> Signup and view all the answers

    What type of employment is generated by exports?

    <p>Both direct and indirect employment</p> Signup and view all the answers

    What is the primary purpose of a Customs Entry Form?

    <p>To compile statistics on the volume and value of exports</p> Signup and view all the answers

    What is demurrage?

    <p>Extra charges paid to a shipowner or carrier</p> Signup and view all the answers

    What is the main purpose of a Packing List?

    <p>To let transport agencies, government authorities, and customers know the contents of the package</p> Signup and view all the answers

    What is a Letter of Credit (L/C)?

    <p>A document issued by the importer's bank stating its commitment to honor a draft</p> Signup and view all the answers

    What is the primary purpose of a Customs Bonded Warehouse?

    <p>To store goods on which payment of duties is deferred</p> Signup and view all the answers

    What is the main purpose of a Shipping Bill?

    <p>To get custom's permission for export</p> Signup and view all the answers

    What is an Export License typically required for?

    <p>Export of raw materials</p> Signup and view all the answers

    What is the relevance of Export Administration as a discipline?

    <p>It plays a crucial role in facilitating international trade</p> Signup and view all the answers

    What is the meaning of Absolute Advantage in export administration?

    <p>When a country or company is more efficient at producing goods or services than another country or company.</p> Signup and view all the answers

    What is the purpose of a Bill of Lading in export administration?

    <p>To contract the carriage of goods to the port of destination.</p> Signup and view all the answers

    What is the main purpose of a Certificate of Inspection in export administration?

    <p>To inspect the goods before shipment.</p> Signup and view all the answers

    What does a Certificate of Manufacture certify in export administration?

    <p>The completion of manufacturing and availability of goods to the buyer.</p> Signup and view all the answers

    What does a Certificate of Origin (COO) declare in export administration?

    <p>The goods being exported are manufactured in a specific country.</p> Signup and view all the answers

    What is the purpose of a Commercial Invoice in export administration?

    <p>To send a statement of account to the buyer.</p> Signup and view all the answers

    What is the concept of Comparative Advantage in export administration?

    <p>A country or region should specialize in the production and export of those goods and services that it can produce relatively more efficiently.</p> Signup and view all the answers

    What is the purpose of a Consular Invoice in export administration?

    <p>To issue a certificate stating that goods of particular value are being imported from a particular country.</p> Signup and view all the answers

    What does the term 'export' connotate in international trade?

    <p>Selling of goods and services produced in a home country to another market</p> Signup and view all the answers

    What does administration entail?

    <p>Planning, organizing, directing, controlling, and coordinating</p> Signup and view all the answers

    What is the primary objective of export administration?

    <p>To ensure compliance with laws and regulations</p> Signup and view all the answers

    What is the role of an exporter?

    <p>To sell goods and services to another country</p> Signup and view all the answers

    What is the term for the buyer of goods and services in another country?

    <p>Importer</p> Signup and view all the answers

    What is the primary focus of export administration?

    <p>International marketing activities</p> Signup and view all the answers

    What is the ultimate goal of export administration?

    <p>To find opportunities for marketing goods and services in foreign markets</p> Signup and view all the answers

    What is export administration concerned with?

    <p>The day-to-day management of export activities</p> Signup and view all the answers

    Study Notes

    Introduction to Export Administration

    • Export Administration is the fusion of two words 'export' and 'administration', which deals with the day-to-day management of exporting goods and services from one country to another.

    Course Overview

    • The course is focused on the processes of internationalization and covers topics such as theories of internationalization, competitiveness of firms, non-traditional exports, trade and economic development, and institutional setting of exports.

    Export Administration

    • Export administration involves planning, organizing, coordinating, and controlling all activities related to exporting goods, technology, and services from one country to another.
    • It involves managing export marketing activities efficiently and smoothly to ensure compliance with laws and regulations.
    • Export administration is concerned with international marketing activities and operations.

    Why the Need for Exports?

    Benefits to the Exporting Country

    • Exports enable the country to earn foreign exchange, which can be utilized in importing consumer goods, raw materials, and capital goods.
    • Exports help develop international ties with importing countries through international trade, trade talks, and trade agreements.
    • Exports help solve and improve the country's balance of payments position.
    • Exports bring reputation and goodwill for a nation in international markets.

    Benefits to the Exporting Firm/Organization/Industry

    • Exports enable business units to export quality goods at higher prices and raise their profit margin.
    • Exports help business firms spread their market risk and compensate for losses in the domestic market.
    • Export administration enables a firm to improve its organizational efficiency.

    Basic Terminologies in Export Administration

    • Absolute Advantage: a situation where a country or company is more efficient at producing a good or service than another country or company.
    • Bill of Lading: a document issued by the shipping company upon shipment of goods, serving as a contract between the shipper and the shipping company.
    • Certificate of Inspection: a document certifying that merchandise was in good condition at the time of inspection.
    • Certificate of Origin (COO): a document declaring that goods are manufactured in a specific country.
    • Commercial Invoice: a statement of account sent by the seller to the buyer, prepared on the seller's letterhead.
    • Comparative Advantage: a concept that holds that a country should specialize in producing goods and services it can produce relatively more efficiently than others.
    • Consular Invoice: a certificate issued by the Trade Consulate stating that goods of particular value are being imported from a particular country.
    • Customs Bonded Warehouse: a warehouse authorized by customs authorities for storage of goods on which payment of duties is deferred until removal for domestic consumption.
    • Customs Entry Form: a form used for compiling statistics on the volume and value of exports.
    • Demurrage: extra charges paid to a shipowner or carrier when a specified period for loading/unloading is exceeded.
    • Export License: a license required for the export of raw materials, goods in short supply, or goods related to national security.
    • Packing List: a document including details about the contents of a package.
    • Letter of Credit (L/C): a document issued by the importer's bank stating its commitment to honor a draft or pay on presentation of specific documents by the exporter within a stated period.
    • Shipping Bill: a multi-purpose document used as an application for export of goods, as a dock challan, and for claiming duty drawback and other export incentives.

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    Description

    Introduction to export administration, covering the basics of export administration and its importance in international trade.

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