In Paragrapgh form!

Q1. Explain the following three types of letter of credit: Irrevocable letter of credit, Confirmed letter of credit, and Revolving letter of credit. - 3 points

Q2. What are the reasons for international business carrying (1) Commercial risk and (2) Political risk. List and discuss the reasons under each RISK separately. - 4 points

Q3. Which of the following pricing approach would you recommend to a company: (1) absorption pricing, (2) pass through pricing, (3) pricing to market. Explain each approach and give your reason for recommending one - 3 points