Why Should Business Managers Be Familiar with Laws That Regulate

question 82

Multiple Choice

Why should business managers be familiar with laws that regulate business practices between nations?

• A) Advances in trade and technology have made trade with other countries easy, but companies must comply with local laws.
• B) NAFTA requires registered businesses to understand and comply with international law.
• C) GATT mandates that U.S. organizations know the laws in the United States and in 150 other member countries in order to incorporate.
• D) Businesses are required to know the laws and to become WTO members to have Internet websites.
• E) Businesses may meet foreigners and should be familiar with their customs to foster positive business relationships.

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Definitions:

Drones

Unmanned aerial vehicles (UAVs) used for various purposes, including surveillance, delivery, and recreational uses.

Average Fixed Costs

Production expenses that stay the same, independent of output levels, divided by the number of units produced.

Drones

Unmanned aerial vehicles (UAVs) that are either operated by remote control or autonomously by computers.

Total Variable

The total of all variable costs associateed with the production of goods or services.