Match the Term with Its Definition

question 64

Essay

Match the term with its definition.Some terms may not be used.
a.Economic risk
b.Experience curve efficiencies
c.Foreign licensing
d.International franchising
e.International outsourcing
f.International strategic alliance
g.Learning effects
h.Licensee
i.Licensor
-Selling a standard package of products,systems,and management services to a company in another country

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Definitions:

Short Run

A period during which at least one of a firm's inputs is fixed, limiting its capacity to adjust to changes in demand.

TC

Total Costs, the sum of all costs incurred in the production of goods or services.

TR

Total Revenue; the total receipts from sales of goods or services provided by a company before any deductions are made.

TVC

Total Variable Cost; the total of all costs that vary with the level of output produced by a company.