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Lands' End Is a U

question 13

Essay

Lands' End is a U.S.mail-order company that sells clothing primarily from catalogs.Initially,all its catalog prices were quoted in U.S.dollars,but recently,the company has expanded and begun printing catalogs with prices denominated in British pounds.Given that the company wants to stand behind its prices for several months,what should the company do if the dollar-pound exchange rate changes?


Definitions:

McDonald's

A global fast-food restaurant chain known for its burgers, fries, and quick service.

Custom

Custom pertains to traditional practices, habits, or behaviors that are typical to a specific culture, society, or community.

Ideology

An arrangement of beliefs and values, especially one that establishes the groundwork for political or economic theories and strategies.

Cultural System

A complex set of values, beliefs, institutions, and artifacts that define a society and influence behavior and social norms.

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