Unless an Exporting Business Plans to Establish a Retail Operation

question 31

True/False

Unless an exporting business plans to establish a retail operation on foreign soil, it will need to establish business-to-business (B2B) sales relationships so that products can be sold directly to foreign retailers or foreign distributors who will sell to those retailers.

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Definitions:

Economic Growth

An increase in the production of goods and services in an economy over a period of time, often measured as the percent increase in Gross Domestic Product (GDP).

Production Possibilities Curve

A graphical representation that shows the maximum combination of two goods that can be produced with available resources and technology.

Consumer Goods

Products that are purchased for consumption by the average consumer, including items such as food, clothing, and household products.

Military Goods

Products and services specifically designed, manufactured, and supplied to armed forces, including weapons, equipment, and military technology.