The Traditional Firm

question 44

Multiple Choice

The traditional firm:

• A)develops strategies needed to expand abroad at the time of the firm's founding.
• B)begins with a "borderless" view of the world.
• C)operates in the home country for many years and gradually evolves into international trade.
• D)focuses on achieving superior performance in international business from the inception of the firm.
• E)is defined as a business organization that, from inception, seeks to derive significant competitive advantage from the use of resources and the sale of outputs in multiple countries.

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Definitions:

Total Population

Total population refers to the entire number of people inhabiting a particular country, region, or area, measured at a certain time.

Loyalists

Colonists who remained loyal to Great Britain during the War of Independence.

American Revolution

The colonial revolt that took place between 1765 and 1783, in which the Thirteen American Colonies won independence from Great Britain, establishing the United States.

Excitation Current

(1) The DC used to produce electromagnetism in the fields of a DC motor or generator, or in the rotor of an alternator or synchronous motor; (2) The AC that flows in the primary of a transformer with no load connected.