____________Is the First Type of International Business (Stage I)in Which

question 97

Multiple Choice

____________is the first type of international business (Stage I) in which firms usually become involved.

• A)Licensing
• B)Joint venture
• C)Direct investment
• D)Importing/exporting

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Definitions:

Demand

The quantity of a good or service that consumers are willing and able to purchase at various prices during a given period.

Income

The amount of money received by an individual or group over a certain period, often derived from work, investments, or business activities.

Utility Function

A mathematical formula that represents a consumer's preference ranking for various bundles of goods.

Budget Line

A graphical representation that shows all the possible combinations of two goods or services that can be purchased with a given budget, keeping the price of both goods constant.