International business

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1. According to _____, the social responsibility of business is to increase profits, so long as the company stays within the rules of law.

  • the Friedman doctrine
  • the naive immoralist
  • the righteous moralist
  • cultural relativism
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2. A group of people who share a common set of values and norms form a:

  • caste
  • culture
  • society
  • country

3. In terms of international business, it is most accurate to say that ________.

  • Most firms depend either on foreign markets and supplies or compete against companies that do
  • There is a universal "best way" to conduct business
  • Global competition affects large companies but not small ones
  • government regulation of international business has little effect on a company's profits

4. David Ricardo's theory of comparative advantage explains global trade in terms of the _____.

  • international differences in labor productivity
  • late mover advantage that certain countries and firms possess
  • first mover advantage that certain countries and firms enjoy
  • geographical differences between various countries

5. In which of the following economies would the government be most likely to take into state ownership troubled firms whose continued operation is thought to be vital to national interests?

  • Mixed economies
  • Market economies
  • Market economies
  • Liberal economies

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