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Discuss the three major drawbacks identified by the internationalization theory regarding licensing as a method of FDI.
Wage
The fixed regular payment, typically calculated on an hourly, daily, or piecework basis, made by an employer to an employee for their labor or services.
Deadweight Loss
A cost to society created by market inefficiency, which occurs when supply and demand are out of equilibrium.
Excise Tax
A tax imposed on specific goods, such as tobacco and alcohol, typically to discourage their consumption or generate revenue.
Tax Revenue
The revenue collected by governments from taxes.
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