This is true. Profit is what is left over after you've covered all your costs. In simple terms.

Socio-cultural. The only 'S' in the framework.

Essentially the contract is now between two different parties because one party has assigned the contract to someone else.
It's always a good idea to check whether this is permitted under a contract, otherwise you might finish up doing business with someone you didn't plan to do business with.

Term contracts are set up for a period of time, or a 'term'.
The other answer options shown here are the subject of other questions within this test.

Supplier liquidations are to be expected; workers' strikes likewise.
Cargo ships do sink, and your course creator has had cargo in at least two ships which have sunk on the high seas, one of them in The English Channel.
A global pandemic (Covid-19) was highly unlikely (2019), but arrived with devastating conse-quences for commerce and people. Low likelihood, huge impact.
Just because it seems unlikely doesn't mean it's not going to happen.
If you're seriously interested on the effect of apparently chance happenings in our lives, read Nassim Nicholas Taleb - you'll either love him or hate him.