A Survey of CEOs of the 162 Largest Firms on Fortune's

question 107

Multiple Choice

A survey of CEOs of the 162 largest firms on Fortune's list of the 500 largest American corporations found that the CEOs strongly believed that

• A) all business students should major in international business.
• B) an international orientation should be an important part of college business education, but only for those students planning to work internationally.
• C) international business skills and knowledge were important for promotion to senior executive positions but not for appointment to entry-level positions.
• D) the importance of international business skills and knowledge for promotion to senior executive positions was higher for companies anticipating an increased level of importance of international activities in the next five years.
• E) foreign language proficiency should be required of all business students.

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Definitions:

Inelastic

A characteristic of a good or service whose quantity demanded or supplied changes by a smaller percentage than changes in price.

Sensitive

Capable of perceiving with the senses or responsive to stimuli or changes in the environment.

Demand

The desire to purchase goods and services backed by the ability and willingness to pay a price.

Economic Theory

A set of principles that explain how economic processes work, guiding the analysis of economic behavior and decision-making.