The first Target store opened in 1962. Its initial strategy was to set prices low to attract a large number of buyers quickly and win a large market share. This is referred to as ________

Which of the following statements is true of the World Trade Organization?

A) Member states have a common tariff barrier against nonmembers. B) It is intended to create a common market. C) All members are obligated to harmonize their trade laws or face sanctions. D) It establishes guidelines for multinational corporations when operating in developed and developing countries.

Compared to digital markets, traditional markets have

A) lower search costs. B) stronger network effects. C) higher delayed gratification effects. D) reduced asymmetry. E) higher transaction costs.