Some Industries Have Argued That Since Their Output Is Vital

question 31

Multiple Choice

Some industries have argued that since their output is vital for national defense,_____.

• A)they should be entitled to additional trade protection
• B)they should make special deals among themselves and discriminate against outsiders
• C)they are more vulnerable to fiscal deficits
• D)they should be given more time to grow to become competitive
• E)they protect domestic jobs and wage levels

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Definitions:

Ethnocentrism

The belief in the inherent superiority of one's own ethnic group or culture, often accompanied by a feeling of contempt for other cultures.

Internationalization

The process of increasing involvement of enterprises in international markets.

Exporting

The act of selling goods or services produced in one country to another country.

New Markets

Refers to previously unexplored or unengaged customer segments or geographic areas that a business aims to enter.