Which of the Following Is True of Theodore Levitt's Arguments

question 94

Multiple Choice

Which of the following is true of Theodore Levitt's arguments concerning globalization of world markets?

• A) Levitt's argument holds true for basic industrial products, such as steel, bulk chemicals, and semiconductor chips but not for consumer goods markets.
• B) Levitt understates his case concerning global markets and the fall of multinational corporations.
• C) Globalization, in the sense used by Levitt, is the rule rather than the exception in consumer goods markets.
• D) Levitt's arguments have no implications for the marketing strategies pursued by an international business.
• E) There is no evidence to suggest the convergence of preferences among consumers across advanced countries.

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Definitions:

Partnership Obligations

The duties, responsibilities, and liabilities assumed by partners in a business partnership, as dictated by law or agreement.

Vicarious Liability

Legal responsibility placed on one person for the acts of another.

Joint Liability

Shared liability. In partnership law, partners incur joint liability for partnership obligations and debts.

Fiduciary Duty

A legal obligation of one party to act solely in the best interest of another party, such as a trustee for a beneficiary.