Which of the Following Is the Term for the Differences

question 32

Multiple Choice

Which of the following is the term for the differences in language,customs,educational background,social values,and religious holidays that foreign businesses must understand and respect?

• A)legal differences
• B)economic differences
• C)political differences
• D)sociocultural differences

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Definitions:

Import Tariffs

Taxes imposed by a government on goods and services imported from other countries, affecting their price and availability.

Consumers

Individuals or entities that purchase goods and services for personal use.

NAFTA

The North American Free Trade Agreement, a treaty between the United States, Canada, and Mexico that eliminated most tariffs and trade barriers among the three countries.

Trade Agreement

A formal accord between two or more nations that determines the rules of trade, including tariffs and duties, between them.