International trade forces domestic firms to become more competitive in terms of ?
Correct answer: D. All of the above
- A. The introduction of new products
- B. Product design and quality
- C. Product price
- D. All of the above
Explanation
International competition pressures domestic firms to improve product variety, design, quality and price in order to retain consumers. Therefore, all three listed forms of competitiveness are involved.
Report an error
The more specific you are, the faster it gets fixed. A source beats an opinion.
Prefer email? [email protected]
About Macroeconomics
The economy is studied as a whole through national income, gross domestic product, inflation, unemployment, economic growth and business cycles. Coverage includes aggregate demand and supply, consumption and investment, money and banking, fiscal and monetary policy, exchange rates and balance of payments, which distinguishes macroeconomics from the study of individual markets.
Practise Macroeconomics
1,499 free Macroeconomics MCQs from Economics, each with the correct answer and an explanation. Unlimited attempts, no account needed.
Discussion
Stuck on an option, or know a faster way to get there? Ask or explain it here.
No comments yet. Be the first to explain this one.
Exams that ask Economics questions like this
Economics is on 3 papers prepared for on TestUstad, and all of them draw the same bank, so this question is worth knowing for every one of them.
More Macroeconomics questions
International trade is based on the idea that ?
Which American industry has least been affected by import competition in recent years ?
Increased foreign competition tend to ?
A primary reason why nations conduct international trade is because ?
Longevity is proxy for ________ in the Human Development Index?
The Physical Quality of Life Index (PQLI) combines three indicators They are ?