HISTORY
HISTORY OF THE MIDDLE EAST
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
because it must reduce shipping costs so as to ensure profits
|
|
|
because it must pay its workers in the national currency of Iraq
|
|
|
because it must circumvent trade barriers imposed by international agreements
|
|
|
because it must improve its efficiency to compete in the global marketplace
|
Detailed explanation-1: -The main goal of strategic sourcing is to save money, improve the procurement process, manage supplier performance, and minimize risks. Another importance of global sourcing is that it puts you ahead of your competitors.
Detailed explanation-2: -As of 2021, the oil sector provides about 92% of foreign exchange earnings. Iraq’s hitherto agrarian economy underwent rapid development following the 14 July Revolution (1958) which overthrew the Hashemite Iraqi monarchy. It had become the third-largest economy in the Middle East by 1980.
Detailed explanation-3: -Cost-savings are one of the main advantages of global sourcing. Many foreign suppliers and manufacturers offer their services at a competitive price, especially in low-cost regions. Manufacturing costs are generally lower and businesses can often buy goods at a lower unit price.
Detailed explanation-4: -How do exchange rate fluctuations affect international trade? Changes in currency exchange rates affect international trade by increasing or decreasing exports and imports. A strong domestic currency will cause exports to decrease and imports to increase. As exchange rates decrease, exports rise and imports go down.