Once a business is broadly defined, the next step is to
A. define a larger group of customers.
B. define the fragment markets.
C. visit all competitors.
D. define a narrow group of customers.
Answer: D
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Answer the following statements true (T) or false (F)
1.Both the Ricardo model of comparative advantage and the Heckscher-Ohlin theory assert that trade patterns are largely the result of differences in endowments of factors of production. 2.Brazil is labor abundant relative to Germany if the ratio of labor to capital in Brazil is higher than that in Germany. 3.The Heckscher-Ohlin model assumes that tastes and preferences, and also factor endowments, are identical for trading nations. 4.In his test of the Heckscher-Ohlin model, W. Leontief found that, although the United States was perceived as being capital abundant relative to the rest of the world, U.S. exports were less capital intensive than import-competing goods. 5.The Heckscher-Ohlin theory asserts that trade should occur with different factor endowments. This theory is most accurate when explaining trade patterns between industrialized countries and developing countries.
The FCPA is jointly enforced by the ________ and the ________
A) United Nations; FTC B) U.S. Justice Department; SEC C) U.S. Department of Commerce; FTC D) Department of Homeland Security; SEC
If a contract is made with a person required by law to hold a license, and the purpose of the license is protection of the public, the contract made by an unlicensed person will generally be unenforceable
a. True b. False Indicate whether the statement is true or false
Which of the following statements with regard to the economic production quantity (EPQ) model is FALSE?
a. It was developed in 1918. b. The EOQ model is based on the EPQ model. c. It assumes that the company will produce the items. d. It assumes that lead time is known and is constant.