The Simplest and Most Cost-Effective Method for a Small Business

question 17

Multiple Choice

The simplest and most cost-effective method for a small business to use in exporting is to

• A) Use an intermediary
• B) Use direct export
• C) Use a distributor
• D) Use a sales representative

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Definitions:

Income Approach

A method of calculating GDP by adding up all incomes within the economy, including wages, interest, profits, and rents.

Expenditures Approach

A method of calculating a country's Gross Domestic Product (GDP) by summing all its spending on final goods and services during a specific period.

Real GDP

The measure of the value of all final goods and services produced within a country in a specified period, adjusted for inflation, reflecting the true economic health of a country.

Inflation

The upward trend in the average pricing of goods and services, narrowing the scope of purchasing capacity.