Ratification of an Agreement That Is Required by Law to Be

question 400

Multiple Choice

Ratification of an agreement that is required by law to be in writing:

• A) need not be in writing
• B) must be verbal
• C) must be witnessed by a court official
• D) must be in writing unless both parties agree that it need not be
• E) none of the other choices are correct

Recognize the arguments for and against globalization and its effects on economies and labor.

Identify the characteristics of modern economies and their dependence on specialization.

Understand the implications of trade agreements and the effects of the trade balance on national economies.

Examine the role and impact of major international agreements (e.g., GATT, NAFTA) and organizations (e.g., WTO, European Union) on global trade and economics.

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Definitions:

Business Strength

A company's competitive advantage or core competencies that enable it to outperform competitors.

Market Growth Rate

The rate at which a specific market expands over a given period, often reflected as a percentage increase in sales or revenue.

Market Share

The portion of a market controlled by a particular company or product, often expressed as a percentage of total sales in that market.

BCG Portfolio

is a strategic business tool developed by the Boston Consulting Group that categorizes a company's products or business units into four types (stars, cash cows, question marks, dogs) based on market growth and market share.