IBT2

Cross-cultural literacy refers to:

An understanding of how cultural differences can affect business.

The most widely practiced religion in the world with some 2.20 billion followers is

Christianity

Which of the following is true regarding culture?

Culture is not static

Ethical Strategies are the accepted principles of right or wrong governing the conduct of businesspeople.

False

In today's world of global communications, rapid transportation, and global markets, cultural differences have ceased to exist.

False

Norms are abstract ideas about what a group believes to be good, right, and desirable.

False

The ethical obligations of a multinational corporation toward employment conditions, human rights, enviormental pollution, and the use of power are always clear-cut.

False

The theories of Smith and Ricardo show that countries should not engage in international trade for products that is able to produce for itself.

False

OECD stands for

Organization for Economic Cooperation and Development

According to Max Weber, Protestantism encouraged capatalism's development by emphasizing the importance of wealth creation and frugality.

True

Folkways include rituals and symbolc behavior.

True

Heckscher-Ohlin theory supports the case for unrestricted free trade between countries.

True

Social responsibility refers to the idea that businesspeople should favor decisions that have both good economic and social consequences.

True

What is considered normal business practice in one country may be considered unethical in other countries.

True

According to the Chapter 6 (International Trade Theory) a country that has an ----------------in the production of a product when it is more efficent than any other country at producing it.

absolute advantage

The Utilitrianism

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

A firm's stake holders

are individuals or groups that have an interest, claim, or stake in the company, in what it does, and in how well it performs.

Values and norms that are shared among employees of an organization refers to

culture

When unit costs reductions associated with a large scale of output happens, it is called...

economies of scale

The most wideley used language in the world is

english

David Ricardo's theory of comparative advantage

international trade in terms of international differences in labor productivity.

Confusionism

is the official theical system of China

Values

is/are best defined as shared assumptions about how things ought to be.

The Foriegn Corrupt Practices Act

outlawed the paying of bribes to foriegn government officials to gain business.

According to the Cultural Relativism

point-of-view, a firm should adopt the ethics of the culture in which it is operating.

Cultural Relativist

recognize human beings have fundemental rights and privileges that transcend national boundaries and cultures.

New Trade Theory

stresses that in some cases countries specialize in the production and export of particular products not because the world market can support only a limited number of firms.

Merchantilism

supports the idea that countries should export more than what they import.

Free Trade

trade refers to a situation in which the goverment does not attempt to influence through qoutas or duties what its citizens can buy from another country or what they can produce and sell to another country.

Abstract ideas about what a group believes to be good, right, and desirable is called:

values