In Figure 30

question 51

Multiple Choice

In Figure 30.2, a minimum wage of $12 will result in

• A) A shortage of 32 workers.
• B) A shortage of 44 workers.
• C) A surplus of 20 workers.
• D) No shortage or surplus of workers.

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Definitions:

Glocalization Strategy

A business strategy that involves adapting a global product or service to suit local tastes and cultures.

Global Sales

Refers to the total sales of products or services worldwide, encompassing various geographic regions and international markets.

Franchising Agreement

A legal contract in which a well-established business grants another party the right to operate under its brand and sell its products or services.

Global Expansion

The process of a business extending its operations and influence to multiple countries beyond its home country.