For $100 Each, Helen Agrees with Troy Tech to Knit

question 51

Multiple Choice

For $100 each, Helen agrees with Troy Tech to knit 14 sweaters for the soccer team in their school colors with their names on the front and "Go Tech" on the back.After Helen has almost finished the last sweater, Troy Tech decides it should spend the money on repairs to the locker room instead of on the sweaters.Does Helen's contract have to be in writing for her to enforce it?

• A)No, because each sweater only cost $100
• B)No, because they are specially manufactured sweaters
• C)Yes, because the total cost is $1,400
• D)Yes, because they are specially manufactured sweaters

Grasp the advantages and implications of different market entry strategies, including franchising and licensing.

Realize the significance of competitive advantage and customer perception in marketing.

Identify the components and structure of an effective marketing plan.

Understand market penetration and product development strategies for growth.

---

Definitions:

Globalization

The process by which businesses or other organizations develop international influence or start operating on an international scale, leading to increased interconnectedness and interdependence of the world's economies, cultures, and populations.

Modernization Theory

A model of economic and social development that explains global inequality in terms of technological and cultural differences between nations.

Industrialized Nations

Countries that have significantly developed their industries and infrastructure, leading to a high standard of living and advanced technological capabilities.

Absolute Poverty

The failure to meet the basic needs of life, including adequate food, clean water, and shelter.