Reasons for Worsening Terms of Trade Include

question 1

Multiple Choice

Reasons for worsening terms of trade include

• A) decline in prices of primary commodities.
• B) World Bank exchange rates.
• C) comparative advantage of less developed countries.
• D) technological advances in less developed countries.
• E) all of the above.

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Definitions:

Hierarchy of Effects

A model that outlines the sequential stages a consumer goes through in the process from unawareness of a brand to purchase decision, including awareness, interest, desire, and action.

Adoption

The acceptance and integration of new ideas, technologies, or products into regular use by consumers or within an organization.

Awareness

The state or level of consciousness where one is informed or cognizant of something, such as a brand, issue, or product.

Trial

A method used in marketing to allow potential customers to try a product or service for a limited time to assess its value or effectiveness.