5. refer(s) to systematic reductions in production costs that have been observed

Question

5. refer(s) to systematic reductions in production costs that have been observed to occur over the life of a product A. Experience curve B. Economies of scale C. Location economies D. Production possibility 6. Firms usually respond to pressures for cost reduction by trying to A, lower the costs of value creation B. be locally responsive C. undertaking product differentiation. D. diversifying product lines 7. To guard against abuse of employment practices in other nations, multinationals should do all of the following except A. establish minimal acceptable standards that safeguard the basic rights and dignity of employees B. adhere to working conditions of the host country if they are clearly inferior to those in a multinational's home nation C. audit foreign subsidiaries and subcontractors on a regular basis to make sure established standards are met D. take action to correct unacceptable behavior

Explanation / Answer

5 Experience curve

6 lower the costs of value creation

7 A

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