BUSINESS ADMINISTRATION
INTERNATIONAL MARKETING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which of the following is the most significant factor affecting the international market for industrial goods and services?
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The foreign exchange market
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Political conditions
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The degree of Industrialization
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The level of domestic competition
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Explanation:
Detailed explanation-1: -Economists divide the factors of production into four categories: land, labor, capital, and entrepreneurship. The first factor of production is land, but this includes any natural resource used to produce goods and services.
Detailed explanation-2: -Another major reason why the Industrial Revolution began in Great Britain was that it had an abundant supply of what economists call the three “factors of production". These factors of production are land, labor, and capital.
Detailed explanation-3: -Capital investment, labor input, financial investment and technological progress are factors that affecting the growth of industrial economy.
There is 1 question to complete.