In Addition to Conducting Research on the Country,a Businessperson Should

question 46

Multiple Choice

In addition to conducting research on the country,a businessperson should consider ____ before going global with a business.

• A) Meeting with businesspeople from that country
• B) Talking to the U.S.State Department
• C) Talking to the chamber of commerce in that country
• D) Visiting the country personally

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Definitions:

Productive Efficiency

A state in which the economy or an economic system is able to produce maximum output from a given set of inputs without wasting resources.

Marginal Cost

The price involved in producing one more unit of a product or service.

Marginal Revenue

The additional revenue that is gained by selling one more unit of a product.

Deadweight Losses

Economic inefficiencies that occur when market equilibrium is disrupted, leading to a loss of economic welfare.