Busi 303 quiz 1 Study guides, Class notes & Summaries

BUSI 303 quiz 2 Answers Liberty University Update! Examples of sources of economies of scale Theory by Adam Smith Proposed in 1776 Was the first to explain why unrestricted free trade is beneficial to a country. A country has this in a product when it is more efficient than any other country at producing it. According to Adam Smith, _____ should determine what a country imports and what it exports. According to internalization theory, licensing has three major drawbacks as a strategy for exploi...