Comparative Advantage in the 21st Century Is Based More on Services

question 12

True/False

Comparative advantage in the 21st century is based more on services and their cross border facilitation by telecommunications and the Internet.

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Definitions:

Selling Virtually

Refers to the process of selling products or services through online platforms, without the need for physical interaction between buyer and seller.

Joint Venture

A business arrangement where two or more parties agree to pool their resources for the purpose of accomplishing a specific task, project, or any other business activity.

Global Market Entry

Strategies and methodologies businesses use to enter international markets, including exports, franchising, and direct investment.

Frito-Lay's

A subsidiary of PepsiCo that manufactures and sells a wide range of snack foods including chips and crisps.