The Bretton Woods agreement differed from the gold standard in that it ____
A. Incorporated both discipline and flexibility
B. Was a floating rate system
C. Was based on the British pound
D. Was a rigid system of fixed exchange rates
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Economies that arise from performing a value creation activity in the optimal place for that activity are referred to as ____
A. Factor economies
B. Production economies
C. Location economies
D. Value creation economies
Which strategy makes most sense when there are strong pressures for cost reductions and minimal demands for local responsiveness? ____
A. Global standardization strategy
B. Transnational strategy
C. Localization strategy
D. International strategy
The advantages frequently associated with entering a market early are commonly known as ____
A. Primary advantages
B. First-mover advantages
C. Initial-entrant premiums
D. Proactive-mover benefits
An arrangement whereby a firm grants the rights to intangible property to another entity for a specified time period in exchange for royalties is a() ____ agreement.
A. Wholly owned subsidiary
B. Turnkey
C. Licensing
D. Exporting