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Question 15 Joint ventures are unattractive because the costs and risks of opening a foreign market are shared firms benefit from a local partner's knowledge of local conditions culture, language, police . the firm risks giving control of its technology to its partner they satisfy political considerations for market entry 1, A country or market would be more desirable/attractive for an international company if It is economically unstable tough competition it has low competition is politically unstable A Moving to the next question prevents chanpes to this answer Question 1 A company that decided to enter LATE in a foreign market have an advantap that It get experience curve that reduces the cont it faces lower risk of failure as compared to early entrant at guts economies of scale that reduces the cool B It requires high cost of promotion as compared to more Through international expansion a firm realize greater cost economies from experience effects which means that it can leverage skills developed in foreign operations and transfer them elsewhere in the firm serve an expanded global market from a central location None of these disperse value creation activities to locations where they can be performed most efficiently and effectively B Moving to the next question prevents changes to this answer. Question 3 For a company that intends to go international, a favorable market should possess all of the following cherer A tree market system A market with relatively low inflation rates mixed or command market system A politically stable 2 For a company entering in a foreign market pressure for local responsiveness will be higher in consumer taste and preferences are similar competition is low consume taste and preferences are Traditional practices are Moving to the next question prevents changes to this answer estion 14 The reduction in unit cost achieved by producing a large volume of a product refers to economies of scale. The wait esat inders because Total variable cost decreases Total variable cost remains same and spread over larger quantity C Total fixed cost remains same and spread over larger quantity Total fixed cost decreases Moving to the next question prevents changes to this