BUSINESS ADMINISTRATION
BUSINESS ECONOMICS
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
Geography
|
|
|
Culture
|
|
|
Economy
|
|
|
Infrastructure
|
Detailed explanation-1: -The social/cultural environment. The cultural environment consists of the influence of religious, family, educational, and social systems in the marketing system. Marketers who intend to market their products overseas may be very sensitive to foreign cultures.
Detailed explanation-2: -A country has a trade deficit when the value of its imports exceeds the value of its exports. The impacts of trade deficits are frequently over-simplified.
Detailed explanation-3: -International trade is known to reduce real wages in certain sectors, leading to a loss of wage income for a segment of the population. However, cheaper imports can also reduce domestic consumer prices, and the magnitude of this impact may be larger than any potential effect occurring through wages.
Detailed explanation-4: -Comparative advantage is an economy’s ability to produce a particular good or service at a lower opportunity cost than its trading partners. Comparative advantage is used to explain why companies, countries, or individuals can benefit from trade.