Your Company Has Recently Requested That You Travel to Dhaka

question 404

Multiple Choice

Your company has recently requested that you travel to Dhaka, Bangladesh, to work on negotiations for a new factory to be located in one of the port cities. Your travel agent provides a list of several hundred local hotels and a Sheraton. In this case, the Sheraton brand-name is likely to be used as a signal of

• A)perceived differences that are not likely to exist among your various options.
• B)quality when quality cannot be easily judged.
• C)inefficiency in markets characterized by recognizable brand names.
• D)the quality of general lodging accommodations in Dhaka.

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Definitions:

Binder

An oral or a written memorandum of an agreement for insurance intended to provide temporary insurance coverage until the policy is formally accepted.

Insurance Coverage

The protection provided by an insurance policy against financial loss or damage, specifying what types of loss are compensated.

Adhesion Contract

A contract drawn by one party that must be accepted on a take-it-or-leave-it basis.

Warranty

A promise, typically by a manufacturer or seller, regarding the condition or performance of a product.