In a Short Essay, List and Discuss Three Important International

question 29

Essay

In a short essay, list and discuss three important international environmental factors for any manager, regardless of national origin, who has to manage in a foreign environment.

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Definitions:

Price Discrimination

The strategy of selling the same product or service at different prices to different groups of consumers, based on their willingness or ability to pay.

Profits

The financial gain obtained when revenues from sales exceed the costs associated with production and selling the goods or services.

Perfect Price Discrimination

The price discrimination that results when a monopolist charges each consumer the maximum that the consumer is willing to pay.

Marginal Cost

The change in the total cost that arises when the quantity produced is incremented by one unit.