The Problem of Inconsistent Standards Across Nations Can Be Managed

question 54

Multiple Choice

The problem of inconsistent standards across nations can be managed by:

• A)policymakers making explicit laws about imports for specific countries.
• B)consumers making voluntary purchasing decisions.
• C)policymakers enforcing blanket standards imposed on all imports.
• D)All of these are ways to manage inconsistent standards.

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Definitions:

Consumerism

The protection or promotion of the interests of consumers, advocating for their rights to information, safety, and to be heard, often in opposition to unethical practices by businesses.

Economic Structure

The organization and functioning of an economy, including the distribution and production of goods and services.

Means of Production

The physical and non-physical inputs used in the production of goods and services, such as land, labor, and capital.

MNC Practices

Strategies and operational procedures used by multinational corporations to conduct business across international borders.