In what way does nationalism tend to be a hindering force in attaining modern economic growth and development, and in what way a facilitating force?
What will be an ideal response?
This is a question that would depend on what you have covered in lecture.
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A firm must devote people, time, and money to designing a new product. Because any firm has only limited resources, it
A) faces a trade-off, because resources used to develop one product will not be available to develop another product. B) should wait until its competitors develop a similar product before deciding on devoting resources to its own product development. C) is not able to develop more than one new product at a time. D) must be certain that the product it chooses to develop will be successful or it will not be able to stay in business.
Which of the following would not describe two thirds of the for-profit businesses in the United States as measured by sheer number of firms?
a. small retail businesses b. small service operations c. part-time home-based businesses d. small farms e. multinational corporation