Marketers Considering Operations and Trade with a Specific Country Must

question 99

Multiple Choice

Marketers considering operations and trade with a specific country must consider whether the country is a trading bloc.A trading bloc is a group of countries:

• A)that have established a formal agreement to manage trade activities.
• B)using the same currency.
• C)which have similar cultural shopping patterns.
• D)located near each other.
• E)which have similar political views.

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Definitions:

Apparent Authority

A situation where a person appears to have been given authority to act on behalf of another, even if no actual authority has been granted.

Third Party

An entity or individual not primarily involved in a legal contract or transaction but may be affected by it or have an interest in it.

Actual Authority

The express and implied powers granted to an agent by the principal in a principal-agent relationship.

Unanimous Vote

A voting outcome where all members of a group or assembly agree on a decision.