Which of the Following Statements About the Dynamics of World

question 61

Multiple Choice

Which of the following statements about the dynamics of world trade is most accurate?

• A) Manufactured products and commodities account for only 25 percent of world trade.
• B) Services such as telecommunications, transportation, and banking are not included in calculations of world trade.
• C) The United States has replaced China as the biggest country in terms of world trade.
• D) Europe is the largest region involved in world trade.
• E) Dollar value of world trade has almost doubled in the past decade.

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Definitions:

Franchising

A form of licensing in which a company—the franchiser—agrees to provide a franchisee a name, logo, methods of operation, advertising, products, and other elements associated with a franchiser’s business in return for a financial commitment and the agreement to conduct business in accordance with the franchiser’s standard of operations.

Franchisees

Individuals or entities that purchase the rights to operate a business under a franchise brand, adhering to the specified business operations and practices.

Standardized Operations

Standardized Operations refers to the implementation of uniform procedures and processes across an organization to ensure consistency and efficiency in production or service delivery.