Which of the Following Is a Factor Responsible for Global

question 23

Multiple Choice

Which of the following is a factor responsible for global business successes?

• A) Standardization rather than customization of negotiation procedures across all cultures
• B) Emergence of the English language as the chief medium of negotiations
• C) Increased homogenization of cultures across the world
• D) Large numbers of skillful international negotiators
• E) Avoidance of the use of technology in all areas related to business negotiations

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Definitions:

Decreases Price

A reduction in the cost or value of a good or service.

Consumer Surplus

The variance between the overall sum consumers can and will pay for a good or service and what they genuinely spend on it.

Producer Surplus

The difference between the amount that producers are willing and able to sell a good for and the actual amount they receive (higher market price).

Market Equilibrium

A condition in a market where the quantity demanded by consumers equals the quantity supplied by producers, leading to a stable price.