AGB 302 quiz 2&3

Which of the following sociologists made a connection between Protestant ethics and the spirit of capitalism?

Max Weber

ethical systems are:

a set of moral principles, or values, that are used to guide and shape behavior

for international businesses, the connection between culture and competitive advantage is important because:

a strong connection is likely to produce the most viable competitors

________ are levied as a proportion of the value of the imported good

ad valorem tariffs

______ argued that countries should specialize in the production of good for which they have an absolute advantage

adam smith

a situation in which none of the available alternative seems morally acceptable is called:

an ethical dilemma

According to the Friedman Doctrine:

businesses should not undertake social expenditures beyond those mandated by the law and required for the efficient running of a business.

which of the following is a closed system of stratification in which social position is determined by the family into which a person is born, and change in that position is usually not possible during an individuals lifetime?

caste system

according to the infant industry argument, many developing countries have a potential ____________ in manufacturing, but new manufacturing industries cannot initially compete with established industries in developed countries

comparative advantage

Child labor is permitted and widely employees in Country X. A multinational company entering Country X decides to employ minors in its subsidiary, even though it is against the multinational's home-country ethics. Which of the following approaches to business ethics would justify the actions of the multinational company?

cultural relativism

a company that sells its product in a foreign market below the cost of production may be accused of

dumping

_____ are unit cost reductions associated with a large scale of output

economies of scale

A firm's _______ include customers, suppliers, and lenders.

external stakeholders

the convention on combating bribery of foreign public officials in international business transactions excludes:

facilitating payments made to expedite routine government action

_______ refers to a situation where a government does not attempt to influence through quotas or duties what its citizens can buy from another country

fere trade

A Japanese executive's ritual of presenting a business card to a foreign business executive is an example of:

folkways

which of the following refers to a situation where a government does not attempt to influence through quotas or duties what its citizens can buy from another country?

free trade

A key issue in the "millennium round" of the WTO was to:

further reduce barriers to cross-border trade and investment

Many firms of all national origins increasingly depend on __________________ for their competitive advantage.

globally dispersed production systems

which of the following is a consequence of the emphasis on individual performance in many western societies?

high degree of managerial mobility

there are 3 values central to the confucian system of ethics that have very import economic implications. which one of these?

honesty in dealings with others

krugman has suggested that trade policy designed to retaliate against another country's trade policy would

hurt the citizens of both countries

the righteous moralist suggests that:

if a manager of a multinational sees that firms from other nations are not following ethical norms in a host nation, that manager should not either

wto rules allow countries to _____ foreign goods that are being sold cheaper than at home, or below their cost of production, even when domestic producers can show that they are being harmed

impose antidumping duties on

David ricardo's theory of comparative advantage explains global trade in terms of the:

international differences in labor productivity

a country has an absolute advantage in the production of a product when it

is more efficient than any other country in producing it

Companies can strengthen the _______ of employees by committing themselves to not retaliate against employees who complain about unethical actions

moral courage

which of the following is a theory that can be used to justify limited government intervention to support the development of certain export-oriented industries?

new trade theory

Which of the following refers to the values and norms that the employees of an organization share?

organization culture

The theory of comparative advantage suggests that trade is a ______ game in which all countries that participate realize economic gains

positive-sum

the _____ argues that a large proportion of the world's new products have been developed by US firms

product-life cycle theory

inadequate protections for intellectual property:

reduce the incentive for innovation

which of the following statements is true about class system

social mobility within a class system varies from society to society

strategic trade policy suggests that a government should use _____ to support promising firms that are active in newly emerging industries

subsidies

A _______ helps domestic producers to compete against foreign imports

subsidy

according to ricardo's theory of comparative advantage, a country should produce goods:

that it produces most efficiently

which of the following statements about values and norms of a culture is true?

the values and norms of a society influence social structure

the ______ occurs when a resource is shared by all, but owned by no one is overused by individuals, resulting in its degradation

tragedy of commons

according to islam, those who hold property are regarded as

trustees

the ______ approaches to ethics hold that the moral worth of actions or practices is determined by their consequences

utilitarian