A firm can establish a wholly owned subsidiary in a country by building a subsidiary from the ground up, called the （ ）. A: licensing agreement B: turnkey strategy C: joint venture D: greenfield strategy

___________ is a business activity in which two or more companies have invested together. A: Mergers B: Acquisition C: Conglomerate D: Joint venture

短文互译：From English into Chinese A joint venture is a form. of business organization undertaken by two or more parties. It is China’s Policy to enter into joint ventures with foreign enterprises in order to expand international economic cooperation and technologi.

In perfect collusion， the firms are producing the joint profit-maximizing output。（ ）

In the simple circular-flow diagram, the participants in the economy are A: firms and government. B: households and firms. C: households and government. D: households, firms, and government.