The United States is efficient at producing software and engineering services, but
cannot produce clothes and electronics as efficiently as other nations. As such, the
United States sells software and engineering services to other countries and buys
What is a sole proprietorship?
a. A business that is owned (and usually operated) by one person
Which of the following is an advantage of a sole proprietorship?
d. Retention of all profits
All of the following are disadvantages of a sole proprietorship, e
International business encompasses all business activities that involve
exchanges across national boundaries.
An absolute advantage is the ability to produce a specific product more
efficiently than any other nation.
A comparative advantage is the ability
Exam 2 Review
Define the following terms:
Research and Development
Exam #1 possible questions:
1. True or False: A client/server network is the simplest network model.
2. A network that is larger than a LAN and connects clients and servers from multiple buildings is
known as a(n) _.
Answer: MAN (metropo