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Chapter 1 2 3 Global Environment of Business
Terms in this set (63)
Which of the following statements is consistent with data from the World Trade Organization with regard to the volume of world merchandise trade?
The volume of world trade has grown faster than the volume of world output since the 1950s
Which of the following is true of the trend in the changing nature of multinational enterprises?
The ranks of the world's largest 100 multinationals are still dominated by firms from developed economies
In recent years, which of the following countries has seen its share of world output fall?
The United States
Why is the development of the microprocessor considered the single most important innovation in technology?
It has enabled the explosive growth of low-cost computing
Managing an international business is different from managing a purely domestic business for all of the following reasons EXCEPT:
the range of problems confronted by a manager in an international business is narrower than that confronted by a manager in a domestic business
Why do many U.S. companies use Indian software engineers to perform maintenance functions on software designed in the U.S.?
It compresses the time and lowers the costs required to develop new software programs
World merchandise trade includes all of the following EXCEPT:
Although Gillette is an American company, it has invested substantial business resources in activities outside the United States. This practice is referred to as:
foreign direct investment
Which of the following agencies was established at the 1993 Uruguay Round?
World Trade Organization
_____ refers to the shift toward a more integrated and interdependent world economy.
The sustained flow of foreign investment into developing nations is:
an important stimulus for economic growth in those countries
The motive behind the high tariffs imposed by nations on imports of manufactured goods prior to World War II was to:
protect domestic industries from foreign competition
Which of the following is true about how containerization has revolutionized the transportation business?
The whole process of moving goods can now be executed by a handful of longshoremen in a couple of days
Over the past quarter of a century, in the context of the global economy, it is being witnessed that:
as economies have advanced, more nations are joining the ranks of the developed world
The NAFTA was formed between:
Canada, Mexico, and the United States
According to the text, the single most important innovation in technology has been the development of the:
_____ predicts that the power of microprocessor technology doubles and the cost of production falls every 18 months.
Which of the following is true about doing business with former communist nations in East Europe and Asia?
These economies are characterized by high risks as well as high returns
Which of the following had the greatest share of the world exports in 2009?
If the current trends in the changing demographics of world GDP and trade continue, the _____ economy could ultimately be larger than that of the United States on a purchasing power parity basis.
Which of the following demographic characteristics was in evidence as late as the 1960s?
Roughly half the world was governed by centrally planned economies.
From 1970 to 2008, the volume of world merchandise trade expanded:
Although Boeing is incorporated in the United States, a supplier in Singapore makes the doors for the nose landing gear. Boeing's taking a part in:
_____ is the likelihood that economic mismanagement will cause drastic changes in a country's business environment that adversely affect the profit and other goals of a business enterprise.
Which of the following countries had the highest GDP growth rate in 1999-2008?
Which of the following is NOT a central tenet of individualism?
The government dictates what is in society's best interest
According to Transparency International, which country is the most corrupt?
The advantages that accrue to early entrants into a business market are referred to as:
The base for adjustment for calculating purchasing power parity is the cost of living in:
the United States
When public officials such as politicians and government bureaucrats extort income or resources from property holders, this can be described as a:
The regulations imposed in this agreement oblige WTO members to grant and enforce patents lasting at least 20 years and copyrights lasting 50 years.
A _____ is a document that specifies the conditions under which an exchange is to occur and details the rights and obligations of the parties involved.
Your company has business interests in a country where the President-elect has won on a platform of a return to socialism and protectionism. Consequently, you are concerned about the _____ risks of continuing to do business in that country.
The bundle of legal rights over the use to which a resource is put and over the use made of any income that may be derived from that resource are called _____ rights.
A law system that is based primarily on religious teachings is referred to as a:
theocratic law system
In some cultures in Asia and the Middle East, it is considered appropriate to give precedence to "the common good" over what may benefit individuals. These cultures can be termed _____.
_____ stresses that the interests of the individual should take precedence over the interests of the state.
When firms do not wish to accept the rules of the CIGS, they usually rely on _____ to settle contract disputes.
_____ totalitarianism generally permits individual economic freedom, but restricts individual political freedom on the grounds that it would lead to a rise of communism.
A composer is able to protect an original musical score from being copied and sold by someone else by acquiring a _____ for the score.
A _____ economy is an economic system in which the interaction of supply and demand determines the quantity in which goods and services are produced.
_____ is a form of government in which one person or political party exercises absolute control over all spheres of human life, and opposing political parties are prohibited.
In a _____ economy, certain sectors of the economy are left to private ownership and free market mechanisms, while in other sectors there is significant state ownership and government planning.
A belief in the superiority of one's own ethnic group or culture, often resulting in disregard or contempt for the culture of other countries, is termed:
_____ means an understanding of how cultural differences across and within nations can affect the way business is practiced.
According to Max Weber, the Protestant ethics that emphasize _____ facilitated the development of capitalism.
hard work, wealth creation, and frugality
Although the number of societies with caste systems diminished rapidly during the twentieth century, one partial example still remains:
In _____ thought, loyalty to one's superiors is regarded as a sacred duty-an absolute obligation.
In the context of quality of life attributes, as countries get richer, there seems to be a shift from _____ values to _____ values.
"Dharma," "karma," and "nirvana" are terms related to:
Recent trends in international business strongly indicate that when Japanese and German businesspeople conduct business together, the language in which they will communicate is almost certain to be _____.
How does the operation of a conventional bank differ from that of an Islamic bank?
Islamic banks are not subject to any form of law
The rise of Islamic fundamentalism is, in part, a response to:
the move of traditional Islamic societies toward modernization
Who isolated four dimensions-power distance, uncertainty avoidance, individualism versus collectivism, and masculinity versus femininity-that he claimed summarized different cultures?
The different ways in which time is valued in different cultures is an example of the _____ in individual cultures.
_____ include rituals and symbolic behavior.
The relationship between culture and country is often:
What is the difference between folkways and mores?
In a business setting, the Chinese concept of "guanxi" can be taken to mean _____.
Max Weber argued that the ascetic principles embedded in _____ do not encourage the kind of entrepreneurial activity in pursuit of wealth creation that we find in Protestantism.
Personal space, which is the comfortable amount of distance between you and someone you are talking with, is an aspect of:
Ethical systems refer to a set of moral principles, or values, that are used to guide and shape _____.
Members of _____ cultures place a premium on job security, career patterns, retirement benefits, and they also had a strong need for rules and regulations.
high uncertainty avoidance
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