The Extension Strategy Where the Product Remains Virtually Unchanged but Extending

question 47

True/False

The extension strategy where the product remains virtually unchanged but extending it in markets outside the home country is known as "adaptation strategy."

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Definitions:

Government Intervention

Actions taken by a government to affect the economy, which can include regulations, subsidies, tariffs, and taxes.

Excludable

A characteristic of a good whereby it is possible to prevent people from enjoying the good unless they have paid for it.

Club Goods

Goods that are excludable but non-rivalrous, where one person's use of the good does not reduce the availability to others but access can be restricted.

Public Goods

Products that cannot be withheld from anyone and whose consumption by one individual doesn't reduce availability for others.