Adding free mobility of factors of production to a customs union is known as whi

Question

Adding free mobility of factors of production to a customs union is known as which of the? following? A. Customs market B. Common market C. Free trade area D. Declining market E. Economic union

Exportation of some products may become impractical when adding which of the following to production? costs? A. Internalization B. Transportation C. Outsourcing D. Packaging E. Advertising

Which of the following does NOT illustrate? scanning? A. A company considers a large group of countries to move into at one time. B. A company compares potential countries on a few conditions that could significantly affect success. C. A company researches a potential country without having to travel to the country. D. A company plans to outsource production and inspect potential facilities. E. A company analyzes Internet information on a specific country before moving there.

Explanation / Answer

Q1) Adding free mobility of factors of production to a customs union is known as B. Common market

In a common market, free mobility of factors of production can be done and can be accessed by its members.

Q2) Exportation of some products may become impractical when adding which of the following to production? costs-

B. Transportaion costs

Q3) Which of the following does NOT illustrate? scanning? -

D. A company plans to outsource production and inspect potential facilities

Scanning involves researching options before finalizing on a decision.

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