What are the factors that determine the long-run monetary benefits of doing business in a country?
What will be an ideal response?
Ans: The long-run monetary benefits are a function of the size of the market, the present wealth of consumer in that market, and the likely future wealth of consumers. Some markets are large but not all. There are some places with low standards of living and possibly limited purchasing powers. International businesses also need to realize the likely future prospects of these countries. It can be beneficial to identify and invest in the places with future economic success.
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Which of the following is true of labor markets?
A. Organizations compete to sell labor in the labor market. B. Competition for labor establishes the minimum an organization must pay to hire an employee for a particular job. C. Changes in the CPI do not affect the labor market. D. Cost-of-living considerations have little impact on labor-market rates. E. An organization's competitors in labor markets typically include only companies with different products.
The law of primacy refers to ________
A) being first in a product category B) establishing credibility C) gaining credibility with media D) earning prime placement in media