Which of the Following Is a Difference Between the Ethnocentric

question 32

Multiple Choice

Which of the following is a difference between the ethnocentric orientation and the polycentric orientation?

• A) The ethnocentric orientation requires the customization of practices in each country, whereas the polycentric orientation requires the standardization of practices across all countries.
• B) The ethnocentric orientation relies heavily on what is normal in each country, whereas the polycentric orientation utilizes the best ideas from anywhere in the world.
• C) The ethnocentric orientation is truly global in its application, whereas the polycentric orientation is local in its application.
• D) The ethnocentric orientation emphasizes the home-country policies, whereas the polycentric orientation emphasizes each country's unique environment.

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Definitions:

Market Shares

The portion of a market controlled by a particular company or product, typically expressed as a percentage of the total market.

Four-Firm Concentration Ratio

An economic measure that assesses the concentration of business within an industry, represented by the combined market share of the four largest firms.

Effective Cartel

An organization of producers that agree to coordinate prices and production to monopolize a market or maximize collective profits.

Pure Monopoly

A market structure where a single seller dominates the market, there are no close substitutes for the product, and barriers to entry are high, preventing competition.