A Business Failure Occurs When a Business ______

question 40

Multiple Choice

A business failure occurs when a business ______.

• A) closes because of retirement by the owner
• B) is sold
• C) closes because of lack of demand for the product
• D) closes with financial losses to creditors

Recognize the role and objectives of major international and regional economic organizations and agreements such as APEC, the European Union, and SADC.

Identify and explain the practices and effects of protectionism and tariffs on global trade.

Grasp the significance and impact of foreign direct investments in the international market.

Describe the legal and ethical considerations for companies operating internationally, including adherence to local laws, labor practices, and anti-corruption measures.

---

Definitions:

Participative Decision Making

A process in which individuals who are affected by decisions influence the making of those decisions.

Data-based Decisions

Making decisions based on the analysis and interpretation of data, rather than intuition or personal experience alone.

Participative Decision Making

A decision-making process where all members of the group are involved to reach a consensus or agreement.

Act Autonomously

The capacity or action of making one's own decisions independently, often associated with self-direction and personal responsibility.