Reasons for Sourcing Globally Include

question 29

Multiple Choice

Reasons for sourcing globally include:

• A)a lower price.
• B)products not available locally.
• C)a firm's worldwide operation and quality.
• D)a lower price,products not available locally,and a firm's worldwide operation and quality.

Grasp the effects of expansionary and recessionary gaps on the economy.

Explain the role of price levels in determining short-run economic expansion or contraction.

Identify factors leading to changes in aggregate supply and demand, including policy decisions and environmental changes.

Understand the definition and causes of stagflation.

---

Definitions:

Crude Oil

A naturally occurring, unrefined petroleum product composed of hydrocarbon deposits and other organic materials, used as a primary source for fuel and in the production of petrochemicals.

Equilibrium

A state of balance in a market situation where the quantity supplied equals the quantity demanded, often resulting in a stable market price.

Shift Left

In economics, it typically refers to a decrease in the supply or demand of a product, shown by a leftward shift of the supply or demand curve.

Supply

The sum of a certain item or service that consumers can obtain.