Which of the Following Would Exert Pressure on a Firm

question 49

Multiple Choice

Which of the following would exert pressure on a firm to become locally responsive?

• A) the need to monitor and respond to global competitors
• B) the need to cater to local customer needs
• C) the desire to capitalize on converging consumer trends
• D) the desire to provide uniform service to consumers

Understand the basic arguments for and against protectionism in international trade.

Comprehend the role and functions of the World Trade Organization (WTO).

Recognize the impact of trade policies such as tariffs and quotas on domestic markets and the global economy.

Understand the concept of comparative advantage and its implications for international trade.

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Definitions:

Equally Participate

The principle or condition of having all members or parties involved in a process or activity with identical levels of involvement and opportunity.

Property Rights

Legal rights that dictate the possession, use, and transfer of property by individuals or entities.

Dishonest Behavior

Actions that involve lying, cheating, deceiving, or any form of untruthfulness or manipulation.

Cognitive Abilities

Mental capabilities involved in the process of acquiring knowledge and understanding through thought, experiences, and senses.