Business practices in Latin America require less emphasis on __________ than in the U.S.

• A. formal contracts
• B. personal relationships
• C. government regulation
• D. market competition

Answer: (A)

Verified step by step guidance

1. Understand the context of the question: It compares business practices in Latin America with those in the U.S., focusing on what is emphasized less in Latin America.
2. Recall that in many Latin American countries, business transactions often rely more on personal trust and relationships rather than formal legal agreements.
3. Recognize that 'formal contracts' are legal documents that specify the terms of business agreements and are heavily emphasized in the U.S. business environment.
4. Contrast this with Latin America, where personal relationships often play a larger role, reducing the reliance on formal contracts.
5. Therefore, the correct answer is that Latin American business practices require less emphasis on formal contracts compared to the U.S.