International business

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Although globalization may bring economic growth, critics nevertheless contend that ________.
The inequality of gains puts some people in a relatively worse economic situation
1 of 26
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
2 of 26
Interdependent political, economic, and legal systems of a country make up its:
political economy.
3 of 26
In several Western democracies, the poor performance of state-owned enterprises, because of protection from competition and guaranteed government financial support, led to ________.
privatization
4 of 26
The tenet of _____ is that the welfare of society is best served by letting people pursue their own economic self-interest.
individualism
5 of 26
In a pure market economy:
production is determined by the interaction of supply and demand.
6 of 26
Under the _____, cases are judged with reference to three characteristics: tradition, precedent, and custom.
common law system
7 of 26
Cross-cultural literacy refers to:
an understanding of how cultural differences can affect business.
8 of 26
A group of people who share a common set of values and norms form a:
society
9 of 26
An act, as simple as shaking hands when meeting new people is an example of:
symbolic behavior.
10 of 26
The social organization of Western society tends to emphasize on:
individual achievement.
11 of 26
FDI occurs when a firm:
invests directly in facilities to produce a product in a foreign country.
12 of 26
grants permission to another company in a different country to use its brand name.
When the firm needs tight control over a foreign entity
13 of 26
When a company brings capital and/or technology to a host country, the host country benefits from the:
resource-transfer effect of FDI.
14 of 26
Why is it said that not all the new jobs created by FDI represent net additions in employment?
Because jobs created by an investment may be offset by the jobs lost in domestic companies
15 of 26
Expatriate managers may experience more than the usual degree of pressure to violate their personal ethics because of all of the following reasons EXCEPT:
they are psychologically and geographically closer to the parent company.
16 of 26
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
17 of 26
Cultural relativism suggests that:
a firm should adopt the ethics of the culture in which it is operating.
18 of 26
The United Nations Universal Declaration of Human Rights, related to employment, upholds all of the following EXCEPT:
prohibition of trade unions.
19 of 26
Identify the INCORRECT statement about environmental regulations.
Environmental regulations are similar across developed and developing nations.
20 of 26
David Ricardo's theory of comparative advantage explains global trade in terms of the _____.
international differences in labor productivity
21 of 26
Identify the theory that supports the view that in some cases countries export for the reason that the world market can support only a limited number of firms.
New trade theory
22 of 26
According to Ricardo's theory of comparative advantage, a country should produce goods _____.
that it produces most efficiently
23 of 26
The theory of comparative advantage provides strong rationale for supporting the idea of _____.
free trade
24 of 26
From least integrated to most integrated, the levels of economic integration are:
a free trade area, a customs union, a common market, an economic union, and a political union.
25 of 26
A _____ has no barriers to trade between member countries, includes a common external trade policy, and allows factors of production to move freely between members.
common market
26 of 26

Other cards in this set

Card 2

Front

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

Back

Most firms depend either on foreign markets and supplies or compete against companies that do

Card 3

Front

Interdependent political, economic, and legal systems of a country make up its:

Back

Preview of the front of card 3

Card 4

Front

In several Western democracies, the poor performance of state-owned enterprises, because of protection from competition and guaranteed government financial support, led to ________.

Back

Preview of the front of card 4

Card 5

Front

The tenet of _____ is that the welfare of society is best served by letting people pursue their own economic self-interest.

Back

Preview of the front of card 5
View more cards

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