Tomas Is a Manager at a Frozen Food Company and Wants

question 67

Multiple Choice

Tomas is a manager at a frozen food company and wants to understand the way people in different countries think and act so that the company can respond to their needs appropriately. What is the best aid he can use to accomplish this?

• A) a sound financial background
• B) better political connections
• C) an understanding of foreign investment opportunities
• D) an understanding of macroeconomics
• E) knowledge of the foreign country's history

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Definitions:

Deadweight Loss

The decrease in economic effectiveness due to the inability to achieve or the unachievable status of market equilibrium for a specific good or service.

Marginal Cost

An elevation in the cumulative expense resulting from manufacturing one more unit of a product or service.

Deadweight Loss

A decrease in economic efficiency resulting from the failure to reach equilibrium in the market for a good or service.

Monopolies

Market structures characterized by a single seller who controls the market supply of a good or service and can influence the price.