By Entering a Market Later

question 18

Multiple Choice

By entering a market later,

• A)customer uncertainties have already been substantially reduced.
• B)the venture can build a reputation as a "founder."
• C)the company can erect barriers to entry and imitation.
• D)the player gets to operate only for a grace perioD.

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Definitions:

Import or Export

Imports are goods and services brought into a country from abroad for sale, while exports are goods and services produced domestically and sold to foreign countries.

World Price

A product or service's worldwide market value, affected by the international balance of supply and demand.

Importer or Exporter

An entity that buys goods and services from a foreign country (importer) or sells them to a foreign country (exporter).

Comparative Advantage

The ability of an individual, firm, or country to produce a good or service at a lower opportunity cost than competitors, underpinning the basis for trade.