Which of the Following Is an Advantage of Conducting Business

question 71

Multiple Choice

Which of the following is an advantage of conducting business in totalitarian nations?

• A) International companies are less likely to face local political opposition to their activities.
• B) Government deals are always straightforward and transparent.
• C) Laws regarding the resolution of contractual disputes are clearly defined.
• D) International companies run no risk of their public image being tarnished.

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Definitions:

Production Process

The series of actions or steps taken in order to create a product or service.

Goods and Services

The physical items (goods) and intangible assistance or activities (services) that fulfill the needs or wants of consumers, forming the basis of all economic activities.

Comparative Advantage

The capacity of a country or firm to produce a particular good or service at a lower marginal and opportunity cost over another.

Absolute Advantage

The ability of a country or entity to produce a good or service more efficiently (using fewer resources) than another country or entity.