When a Firm's Products Sell in Foreign Countries with Little

question 110

Multiple Choice

When a firm's products sell in foreign countries with little or no effort to obtain foreign sales, the firm is engaging in

• A) international marketing.
• B) global marketing.
• C) limited exporting.
• D) product licensing.
• E) unplanned exporting.

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Definitions:

Oligopoly

A market structure dominated by a small number of large firms, leading to limited competition and potentially collaborative behavior that influences prices and production.

Nash Equilibrium

A concept in game theory where no player can benefit by changing strategies while the other players keep theirs unchanged, indicating an optimal strategy set for all players.

Positive-Sum Game

In game theory, a game in which the gains (+) and losses (−) add up to more than zero; one party’s gains exceed the other party’s losses. A strategic interaction (game) between two or more parties (players) in which the winners’ gains exceed the losers’ losses so that the gains and losses sum to something positive.

Payoff Matrix

A table that shows the potential outcomes of different strategies in a strategic interaction, commonly used in game theory.