What is the difference between importing and exporting?
What will be an ideal response?
Importing involves a firm buying from a foreign company to sell at home. Exporting involves a firm making products to sell to foreign companies.
Learning Objective: 3-5: Rank the six forms that make a business a global one, in order from lowest to highest cost and risk.
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Philosophical ethics distinguishes what people do value from what they should value.
Answer the following statement true (T) or false (F)
Arguments based on ethos depend upon logic
Indicate whether this statement is true or false.
Forcing someone to enter into a contract through fear created by threats is undue influence.
Answer the following statement true (T) or false (F)
As Akerlof argues, sellers who have a lemon, of course, know they have lemon but are not willing to tell the truth about the condition of their auto and, for the short selling period involved, can put their auto in a satisfactory condition that
approximates the normal condition of the auto that are not lemons. In subsequent literature, this problem called the _ problem. a. informational asymmetry b. agency c. moral hazard d. certification