Which of the Following Statements Concerning the Global Marketplace Is

question 82

Multiple Choice

Which of the following statements concerning the global marketplace is true?

• A)The global marketplace is diminishing because of Internet technology.
• B)The global marketplace is growing because of trade agreements.
• C)The global marketplace is growing due to the threat of the ability of a single nation to manufacture, supply, and consume all that it produces.
• D)The global marketplace is growing owing to the talent shortage in the home countries of national companies.

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Definitions:

Price Elasticity Of Demand

An indicator of the sensitivity of demand for a product to fluctuations in its price.

Quantity Of Tickets

The number of tickets available or sold for an event.

Total-Revenue Curve

A graphical representation that shows how total revenue changes as the quantity sold of a product or service changes.

Linear Demand Curve

A graphical representation of demand where the relationship between price and quantity demanded is a straight line, indicating constant marginal change.