Alice Inc ,An American Firm,signed a Contract with an Indian Retailer

question 4

Multiple Choice

Alice Inc. ,an American firm,signed a contract with an Indian retailer to sell its latest range of furniture.Due to wrong analysis about the buying power and preferences of the Indian population,the furniture was priced high,consequently leading to low sales.From this scenario,we can infer that Alice Inc.did not succeed due to the _____ existing in India.

• A)political conditions
• B)legal conditions
• C)cultural conditions
• D)economic conditions

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Definitions:

Self-Interest

The pursuit of personal advantage or gain, which can motivate individuals to act in ways that benefit them.

Market System

A financial system is in place where market forces such as supply and demand dictate the decisions on investment, production scales, and distribution strategies, with prices for products and services set in a liberalized pricing environment.

Capitalist System

An economic system where private individuals or businesses own capital goods and the production of goods and services is based on supply and demand in the market.

Central Planning

An economic system in which decisions about production, investment, and distribution are made by a central authority, often the government.