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What is a group of countries, not necessarily contiguous, where the countries and their consumers may share quite similar Socio-cultural Environments is called?  A

Economics Jun 02, 2022

What is a group of countries, not necessarily contiguous, where the countries and their consumers may share quite similar Socio-cultural Environments is called?

  •  A. competitive barriers
  •  B. outsourcing group
  •  C. country cluster
  •  D. global partners

Expert Solution

Answer:

C. country cluster

Explanation

By definition, a socio-economic environment refers to the systems and structures that affect distribution of goods and services. Many multinationals tend to think in terms of clusters when developing business strategies, plans for marketing their goods, staffing plans etc. Country clusters are a group of countries where both the countries and consumers share the same socio-economic environments. An example of a cluster is the Canada and the US and may also include the North and South AMerica as one big cluster. 

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