Vicarious Performance Is a Necessity in the Real World.Explain

question 55

Essay

Vicarious performance is a necessity in the real world.Explain.

---

Definitions:

Infrastructure

The basic facilities, services, and installations needed for a community or society to function, such as transportation and communications systems, water and power lines, and public institutions like schools, post offices, and prisons.

Quota

Designates the maximum quantity of a product that may be brought into a country during a specified time period.

Imported Goods

Products or goods brought into one country from another, subject to the importing nation's customs and regulations.

Direct Investment

When a firm maintains 100 percent ownership of its plants, operation facilities, and offices in a foreign country, often through the formation of wholly owned subsidiaries.