Which of the Following Is the Easiest and Most Common

question 37

Multiple Choice

Which of the following is the easiest and most common strategic approach for a company making its first foray into the international marketplace?

• A) Exporting
• B) Importing
• C) Franchising
• D) Licensing

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Definitions:

Quantity Demanded

In economics, the total amount of a good or service that consumers are willing and able to purchase at a given price.

Income

The financial gain received by an individual or household, usually derived from work, investments, or other sources, over a period.

Own Price Elasticity

The responsiveness of the quantity demanded of a good to a change in its own price, holding other factors constant.

Delicacy Market

A sector of the food industry focused on selling rare, expensive, or gourmet items considered highly desirable.