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Describe three contractual agreements firms can enter into when going global.
Invisible Hand
A metaphor describing the self-regulating behavior of the marketplace, where individuals' pursuit of self-interest results in benefits for society.
Society's Interests
The collective preferences and priorities of a community or society, often influencing policy and decision-making.
Self-Interest
The motivating force in economics that drives individuals to pursue their goals in a way that is most beneficial to them.
Risk Management
The process of identifying, assessing, and prioritizing risks followed by the application of resources to minimize, control, or eliminate the impact of unforeseen events.
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