Which of the Following Companies Is in the First Stage

question 16

Multiple Choice

Which of the following companies is in the first stage of global business?

• A)D Feet Corp., which manufactures footwear in a small town in Lucitona and sells the footwear to several countries around the world
• B)Laelle Inc., which is based in Euphonia and has set up several subsidiaries to manage its business in another country
• C)Fournotts Bros., which is based in Datford and opens a new line of business in a neighboring country
• D)Rues and West Inc., which operates online shopping sites around the world

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Definitions:

Economics

The social science that studies how individuals, governments, firms, and nations make choices on allocating resources to satisfy their wants and needs, attempting to determine how these groups should organize and coordinate efforts to achieve maximum output.

Scarcity

The fundamental economic problem of having seemingly unlimited human wants in a world with limited resources.

Society

Society refers to a group of individuals living together in a more or less ordered community, sharing common traditions, institutions, and values.

Scarcity

The basic challenge in economics of limitless human desires within a finite resource environment.