A Market Exists When

question 92

Multiple Choice

A market exists when:

• A) an absolute advantage is achieved by one country.
• B) people exchange money for goods and services.
• C) the cost of production is equated to price by a government agency.
• D) a physical location is created to facilitate the exchange of personal information about consumer choices.

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Definitions:

Cultural Competency

The ability to understand, communicate with, and effectively interact with people across cultures.

Cultural Differences

Variations in the practices, values, and beliefs of different societies or communities, often leading to diverse worldviews and behaviors.

Communication

The exchange of information, thoughts, or messages through speech, writing, signals, or behavior.

Intercultural Communication

The process of exchanging meaningful and unambiguous information across cultural boundaries, to foster understanding and respect.