Long-Term Contracts, Agency Agreements, Joint Ventures, Supplier-Customer Partnerships, and Franchising

question 37

Multiple Choice

Long-term contracts, agency agreements, joint ventures, supplier-customer partnerships, and franchising are examples of:

• A)Different business models
• B)Different types of hybrid relationships between sellers and buyers
• C)Power-based relationships between sellers and buyers
• D)Techniques for international business

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Definitions:

Cultures

The shared beliefs, practices, norms, and values of a group of people that shape their way of life and social interactions.

Conflict Perspective

A sociological viewpoint that emphasizes the social, political, or material inequalities of social groups, arguing that these disparities lead to conflicts which drive societal changes.

Power

The capacity or ability to direct or influence the behavior of others or the course of events.

Society

A community of people living together in an ordered community, sharing customs, laws, and organizations.