Publishing as Prentice Hallĥ) Free market economies often establish some system of quotas and/or tariffs. Answer: TRUEExplanation: Franchising is an increasingly popular example of licensing.Page Ref: 102Difficulty: EasyAACSB: Dynamics of the global economyObjective: 4.3Learning Outcome: Explain the benefits and challenges of engaging in international businessSkill: ConceptġCopyright 2013 Pearson Education, Inc.
BUSINESS ESSENTIALS 9TH EDITION PDF DOWNLOAD PLUS
Answer: TRUEExplanation: The WTO encourages international trade by encouraging fair trade practices, breaking down trade barriers, and establishing fair procedures for dispute resolution.Page Ref: 92Difficulty: EasyAACSB: Dynamics of the global economyObjective: 4.1Skill: ConceptĤ) In a licensing arrangement, firms choose foreign organizations to manufacture their products in another country in return for a fee plus royalties. Answer: TRUEExplanation: Countries import goods from other countries that are meant to be sold within the home country.Page Ref: 89Difficulty: EasyAACSB: Dynamics of the global economyObjective: 4.1Learning Outcome: Explain the benefits and challenges of engaging in international businessSkill: ConceptĢ) Low-income countries have an annual per capita income of $2,500 or less.Answer: FALSEExplanation: Low-income countries have an annual per capita income of $905 or less.Page Ref: 90Difficulty: EasyAACSB: Dynamics of the global economyObjective: 4.1Skill: Conceptģ) The World Trade Organization (WTO) was created to encourage international trade. Business Essentials, 9e (Ebert/Griffin)Chapter 4 The Global Context of Businessġ) An import is a product made or grown abroad but sold domestically.
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