Which of the Following Is a Function of an Export

question 84

Multiple Choice

Which of the following is a function of an export management company?

• A)It starts exporting operations for a firm with the understanding that the firm will take over operations after they are well established.
• B)It coordinates the Export Legal Assistance Network, a nationwide group of international trade attorneys.
• C)It oversees volunteers with international trade experience to provide one-on-one counseling to active and new-to-export businesses.
• D)It collects duties on exported products and sets interest rates for charging foreign investors.
• E)It gives novice exporters the names and addresses of potential distributors in foreign markets along with businesses they are in.

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Definitions:

Opportunity Cost

The cost of foregone alternatives, the value of the next best alternative that is given up when making a decision.

Comparative Advantage

The ability of a country or firm to produce a particular good or service at a lower opportunity cost than its competitors, leading to more efficient trade and production patterns.

Absolute Advantage

A situation in which a country, individual, or company can produce a particular good or service more efficiently than another party, using the same amount of resources.

Trade

Trade involves the exchange of goods, services, or both between parties, which can be at the domestic or international level, fostering economic interaction and integration.