Reciprocation Is

question 102

Multiple Choice

Reciprocation is:

• A)responding to competitor's marketing efforts.
• B)a sense of obligation to repay what has been done for you.
• C)not important when building social capital.
• D)only important once you have established your business.

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Definitions:

International Trade

The exchange of goods and services between countries, allowing for specialization and economies of scale.

Specialization

In economics, it refers to the process by which individuals, businesses, or countries focus on producing a narrow range of goods or services to gain greater efficiencies and improve competitive advantage.

Self-Sufficiency

The condition of being able to satisfy all of one's needs without external assistance.

NAFTA

The North American Free Trade Agreement, a treaty entered into by the United States, Canada, and Mexico; effective in 1994 to eliminate most tariffs on trade between these nations.