Experts Suggest That Firms Wanting to Globalize Through E-Commerce Must

question 78

Multiple Choice

Experts suggest that firms wanting to globalize through e-commerce must first localize, which means firms need to ________.

• A)use local suppliers, vendors, and distributors to manufacture products for the local market
• B)modify their products and services to meet the needs and interests of local cultures
• C)sell their products in a brick-and-mortar store before selling them through an e-market
• D)test their products and services in local markets before selling them over the Internet

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Definitions:

Frictional Unemployment

A type of unemployment that occurs when individuals are temporarily unemployed while moving between jobs, entering the workforce for the first time, or re-entering the workforce.

Discouraged Workers

Individuals not actively seeking employment due to believing no jobs are available for them or they would not qualify for the jobs that are available.

Full Employment

A situation in an economy where all available labor resources are being used in the most efficient way possible, typically associated with low unemployment rates.

Inflation

The tempo at which the collective cost of goods and services rises, impairing the purchasing potential.