Otis Elevators Has Entered into a Strategic Alliance with a Company

question 123

Multiple Choice

Otis Elevators has entered into a strategic alliance with a company in France from which it gets its elevator door systems.It has a similar agreement with a manufacturer in Japan that provides it with special motor drives.A manufacturer in Spain has worked closely with Otis to create small geared parts necessary for the manufacture of elevators.The component parts are assembled at its plant in the United States.Otis elevators can be found in buildings all over the world.Otis Elevators is an example of a(n) :

• A) cultural marketer
• B) global trader
• C) multinational corporation
• D) exporting company
• E) global enterprise

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Definitions:

Equilibrium Price

The market price at which the quantity of goods supplied is equal to the quantity of goods demanded; it is the price that clears the market.

Surplus

A surplus refers to the amount by which the quantity supplied of a product or service exceeds the quantity demanded, often resulting in a decrease in prices.

Shortage

A market condition where the demand for a good exceeds its supply at a specific price, often leading to price increases.

Quantity Demanded

The total amount of a good or service that consumers are willing and able to purchase at a given price in a given time period.