A _____ Is a Business Relationship Established by Two or More

question 5

Multiple Choice

A _____ is a business relationship established by two or more companies to cooperate out of mutual need and to share risk in achieving a common objective without forming a separate legal entity.

• A) direct sales group
• B) consortia
• C) franchising organization
• D) strategic international alliance
• E) joint venture

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Definitions:

Keynesian

Relating to the economic theories of John Maynard Keynes, focusing on how aggregate demand influences economic output and inflation.

Classical Economic Systems

An economic framework based on free markets, limited government intervention, and the belief in the efficiency of market outcomes as guided by invisible hand principles.

Economy

A system of production, distribution, and consumption of goods and services within a particular geographical area.

Full Employment GDP

The output level produced in an economy when labor resources are fully employed, but not over-employed.