_____,A Type of Countertrade,occurs When a Firm Agrees to Purchase

question 53

Multiple Choice

_____,a type of countertrade,occurs when a firm agrees to purchase a certain amount of materials back from a country to which a sale is made.

• A) Barter
• B) Counterpurchase
• C) Compensation
• D) Switch trading
• E) Buyback

Understand the value and components of formal codes of ethics in organizations.

Analyze the relationship between social responsibility and financial performance.

Understand different strategies of social responsibility and their implications.

Recognize the role of personal contacts, networks, lobbying, and public relations in influencing government decisions.

---

Definitions:

Inelastic

describes a situation where the demand or supply for a good is not significantly affected by changes in price.

Relatively Elastic

Describes a situation where demand for a product is sensitive to changes in its price, meaning consumers will significantly reduce or increase their demand based on price changes.

Sensitive

Responsive or easily affected by external conditions or stimuli.

Economic Theory

A concept or principles developed to explain how economies work and how economic agents interact.