An MNC uses which international strategy for entering a foreign market by associating itself with a firm in the host country or a government agency in that country to combine resources and expertise needed for the development of a new product or technologies?
a. licensing
b. joint ventures
c. production-sharing
d. exporting
e. acquisition

B) Joint Venture

Explanation:

Joint venture is a kind of business arrangement where two firms merge which includes combining resources and ideas to enhance productivity. Another scope under the topic, joint venture is the  international joint venture. This type of business partnership involved firms from different countries, combining resources and ideas to enhance productivity. This happens when a firm attaches itself to a foreign firm in another country of its interest, to mix up on expertise and other essentials to develop their outputs.

The correct answer is the option B: joint venture.

Explanation:

To begin with, the concept of ''joint venture'' in the field of business, refers to the situation where a company is created under the basis of two or more entities and whose main goal that it seeks is to work together by sharing ownership, risks, returns and governance in order to achieve the purpose of entering a new market, gain scale efficiencies or even creating a new product for the market. That is why, an MNC uses this type of international strategy in order to enter a foreign market.

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