Strategic trade theory makes different assumptions about the industry environment in which firms operate than do the classical theories

Why is it important for managers to understand trends which are occurring within the economic market?

A. help managers have confidence in outlaying investments B. design business strategy C. pose opportunities and challenges to the livelihood of businesses D. develop products that customers will want E. help managers to predict future demand

Which of the following terms refers to the type of currency used only for domestic business transactions?

A) hard currency B) convertible currency C) nonconvertible currency D) alternative currency