If You Will Be Living in Another Country Where English

question 9

Multiple Choice

If you will be living in another country where English is not the official language but you will be doing business in English,you

• A) will not need to learn that country's language.
• B) should learn only those words that are absolutely necessary for getting around.
• C) will show respect by making an effort to learn the language.
• D) should only deal with natives who can speak English.
• E) demand that a translator be present for all conversations.

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Definitions:

Average Total Cost

The total cost of production (fixed plus variable costs) divided by the total quantity of output produced. It measures the cost per unit of output.

Ceteris Paribus

a Latin phrase meaning "all other things being equal," used in economic models to isolate the effect of one variable.

Economies of Scale

The financial advantages gained by companies due to their operational scale, where there's a general decline in the cost per unit of output with the growth in scale.

Total Demand

The entire quantity of a particular good or service that all consumers in a market want to purchase at various price levels during a specified time period.