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The International Chamber of Commerce (ICC) publishes a set of Incoterms, officially known as international commercial terms to facilitate commerce around the world. Globally recognized,

The International Chamber of Commerce (ICC) publishes a set of Incoterms, officially known as international commercial terms to facilitate commerce around the world. Globally recognized, Incoterms prevent confusion in foreign trade contracts by clarifying the obligations of buyers and sellers.

b. Illustrate the selection of Incoterm EXWORKS and DDP affected the item unit price with suitable examples. (10 marks)

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