Answer: Option B
Explanation: As the name suggests, international marketing refers to the process under which a company uses various marketing tools to operate their marketing activities in more than one country.
Generally, different marketing tills and strategies are implemented for different countries as the preference and needs of individuals differs all around the globe.
For example- Starbucks is a popular brand for their variety in coffee but in China they market their tea products more due to general preference of individuals towards tea more than coffee.
Answer:
The first step is to show where the supply curve will shift, and in this case, the supply curve will shift to the right.
This is because OPEC has decided to increase oil production, or in other words, it has decided to shift the oil supply to the right. After this, the equilibrium price will probably fall, unless demand also rises proportionally.
Answer:
The correct option is increase; decrease; increase
Explanation:
First, we will define the following terms:
- Consumer surplus
- Producer surplus
- Total surplus
<u>Consumer surplus</u> refers to the difference between the price that consumers pay and the price that they are willing to pay. Consumer surplus always increases as the price of a good falls and decreases as the price of a good rises. Therefore, in this scenario, as the country exports wheat, more wheat will be available in the market, leading to a fall in price, thereby leading to an increase in consumer surplus.
<u>Producer surplus</u> refers to the difference between how much a producer would be willing to accept for given quantity of a good against how much they can receive by selling the good at the market price. The difference or surplus amount is the benefit the producer receives for selling the good in the market. When prices rise, producer surplus increases, and when price falls, producer surplus decreases. There a decrease in price spurred by more wheat in the market will lead to a decrease in producer surplus.
<u>Total surplus</u> in a market refers to the measure of the total well-being of all participants in a market. Therefore, with more wheat in the market, there will be a drop in price, and consumers will be able to buy more, leading to more supply. This will lead to an increase in total surplus.
