Question 1
Businesses foster economic and social development in in emerging markets and developing economies ________.
◦ through the mass production of cheap, low-quality goods
◦ by using strategies developed decades ago and refined in mature advanced-economy markets
◦ by developing community-oriented social programs
◦ by implementing cost-effective production methods
Question 2
Class Reports (Scenario)
Prof. Jacob Middleton has divided students in his international business class into three groups. Each group has been assigned the task of presenting an overview of a major country group and outlining its distinguishing characteristics. Group 1 will discuss advanced economies, Group 2 will address the characteristics of developing economies, and Group 3 will focus on emerging markets.
Which of the following refers to a distinctive trait of the type of economy discussed by Group 1?
◦ minimal trade barriers
◦ low trade volume
◦ low inward FDI
◦ poor industrialization
Social class and social status
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