Today, doing business is not easy for businessmen, as they are not used to competition. In the past they were selling whatever .....(17)......produced and at their desired price. But, (18)... the competition has increased over the years, customers started to ....(19).....and choose. Imports have become.....(20)....available and that too at cheaper .......(21)...........

Economies of Scale isQuestion 8Answera.Buying goods at largeb.Selling Goods at largec.manufacturing at low costd.new innovative products

Which factor contributes to competitive advantage through global sourcing by accessing new markets and customers?  A. Cost reduction  B. Improved supply chain efficiency  C. Increased market share  D. Enhanced product quality

…………………………………. originated through direct production. Trade originated due to…………………………………(b) Commerce is the combination of ………………………………… and …………………………….17. (a) Business organizations face ……………………………. to earn profit and it is called as…………………………………(b) ………………………………. developed due to ………………………….. occurred in 18th century.18. (a) The business environment which can be controlled by business is called as …………………………….and the business environment which affects the cost of a business is called as…………………………………(b) Wastes generated in ………………………… and in ………………………. are a great globalchallenge at present.19. (a) The intervention of government on businesses takes place through central, ……………………………..and ………………………………. levels of government.(b) …………………………………. means the equal distribution of gross production of the country amongthe total population of the country. Further, ………………………… stabiluty occurs by controllinginflation in the economy

Import prices, especially manufactured goods, have fallen because of the global boom in capacity and production.Question 45Select one:a.进口产品在全球经济繁荣的趋势下大幅度提高。b.进口价格，特别是工业产品价格，在全球经济繁荣的条件下大幅度下降。c.进口价格，特别是加工制成品价格，在全球生产能力和产量大涨的形势下呈下降趋势。

All firms in the industry are price takers. A. 1 only B. 2 only C. 3 only D. 1 and 2 only E. 1 and 3 only