Imagine that you are a business owner and looking to expand your operations internationally for the first time. You know that different approachesoffer different advantages. For each advantage listed below, identify the business approach that would provide that advantage.Access to foreign marketsNo need to adapt products to local preferencesControlAccess to materials and technologyLow capital investment neededShared ownershipImport/Export Licensing Joint VentureOOOODirect InvestmentO

Answered: Imagine that you are a business owner…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Imagine that you are a business owner and looking to expand your operations internationally for the first time. You know that different approaches
offer different advantages. For each advantage listed below, identify the business approach that would provide that advantage.
Access to foreign markets
No need to adapt products to local preferences
Control
Access to materials and technology
Low capital investment needed
Shared ownership
Import/Export Licensing Joint Venture
O
O
O
O
Direct Investment
O

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Step 1

Import/Export refers to the buying and selling of goods and services between countries. It involves the movement of goods and services across international borders, and typically involves a transaction between a buyer and a seller located in different countries.

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