Firms That Compete in the Global Marketplace Typically Face Two

question 36

Multiple Choice

Firms that compete in the global marketplace typically face two types of competitive pressure

• A)pressures for increasing investment and pressures to minimize consumer surplus.
• B)pressures for labor skill enhancement and pressures to minimize economies of scale.
• C)pressures for cost reductions and pressures to be locally responsive.
• D)pressures for global promotions and pressures to move down the efficiency frontier.
• E)pressures for product standardization and pressures to move up the experience curve.

---

Definitions:

Economic Vitality

Economic Vitality describes the strength and robustness of an economy, often measured by the level of business activity, employment rates, and gross domestic product growth.

Recessionary Phase

A period in the economic cycle when the economy is declining, characterized by reduced industrial activity, trade, and consumer spending.

Real Estate

Property consisting of land and the buildings on it, along with its natural resources, and engaged in the buying, selling, and renting of these properties.

Economic Fluctuations

Economic fluctuations are variations in the level of economic activity, typically measured by changes in real GDP, encompassing cycles of expansion and contraction.