Your Company Has Recently Requested That You Travel to Dhaka

question 404

Multiple Choice

Your company has recently requested that you travel to Dhaka, Bangladesh, to work on negotiations for a new factory to be located in one of the port cities. Your travel agent provides a list of several hundred local hotels and a Sheraton. In this case, the Sheraton brand-name is likely to be used as a signal of

• A)perceived differences that are not likely to exist among your various options.
• B)quality when quality cannot be easily judged.
• C)inefficiency in markets characterized by recognizable brand names.
• D)the quality of general lodging accommodations in Dhaka.

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Definitions:

Trade Freely

The ability to exchange goods and services without restrictive regulations, tariffs, or quotas, enabling a more efficient allocation of resources globally.

Low-Wage Countries

Nations where the general level of wages is significantly lower than in industrialized countries.

Domestic Resources

Resources found within a country’s borders that can be used for economic gain, such as labor, land, and raw materials.

North American Free Trade Agreement

A trade agreement between Canada, Mexico, and the United States aimed at eliminating tariffs and reducing trade barriers.