Scarcity

question 361

Multiple Choice

Scarcity

• A) exists in all human societies.
• B) is a problem for less-developed nations only.
• C) used to be a problem, but is not an issue for modern industrial nations.
• D) afflicts greedy people only.

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Definitions:

Host Country

The country in which a multinational company operates a facility outside of its home country.

Political Factors

External Factors Including Labor Laws, Property Rights, and Patent Processes.

Economic Factors

External factors including the strength or weakness of markets, stability of trade cycles, specific industry conditions, customer preferences, and government’s economic policies.

Labor Laws

Regulations and laws that govern the rights and responsibilities of workers, employers, and labor unions to ensure fair employment practices.