According to Vernon,which of the Following Factors Obviates the Need

question 6

Multiple Choice

According to Vernon,which of the following factors obviates the need for pioneering U.S.firms to look for low-cost production sites in other countries?

• A)There is less uncertainty and risks inherent in introducing new products.
• B)The demand for most new products tends to be based mainly on price.
• C)U.S.labor costs were relatively low compared to global standards.
• D)Firms can charge relatively high prices for new products.

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Definitions:

Cultural Hybrids

Blends of elements from different cultures creating new, unique cultural forms or practices.

Neoliberal

Relating to a modern politico-economic theory favoring free-market capitalism, deregulation, and reduction in government spending.

Capital Accumulation

The process of acquiring and increasing amounts of capital or assets, often by businesses or individuals, to generate wealth.

Financial Institutions

Entities such as banks, credit unions, and insurance companies that provide financial services including loans, deposits, investments, and currency exchange.