International Business final exam (exam 2)

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

Christianity

_____________ is the offical ethical system of China

Confucianism

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

Cultural relativism

Heckschler-Ohlin theory does not support the case for unrestricted free trade between nations.

False

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

False

The ethical obligations of a multinational corporation toward employment conditions, human rights, environmental pollution, and 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 it is able to produce for itself.

False

The ________ outlawed the paying of bribes to foreign government officials to gain business.

Foreign Corrupt Practices Act

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

Free

Ethical strategy is course of action that does not violate ethical principles.

True

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

True

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

True

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

True

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

Utilitarian

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

Values

Cross-cultural literacy refers to:

an understanding of how cultural differences can affect business.

David Ricardo's theory of comparative advantage explains:

international trade in terms of international differences in labor productivity

Abstract ideas about what a group believes to be goof, right, and desirable is called _________.

values

_________ recognize that humans beings have fundamental rights and privileges that transcend national boundaries and cultures.

Rights theories

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

Stakeholders

OECD stands for _______________ ___ _____________ ________________ ______ _______________

Organization of Economic Co-operation and Development

According to the chapter 6 (International Trade Theory), a country has an ______________ _________________ in the production of a product when it is more efficient than any other country at producing it.

Absolute advantage

The most widely spoken language in the world is

English

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

Mercantilism

_____________ stresses that in some cases countries specialize in the production and export of particular products because the world market can support only a limited number of firms.

New trade theory

In the opening case of Chapter 6, ____________ ______________ ________ _________ __________________ was the free trade deal that President Donald Trump called "the worst trade deal maybe ever signed anywhere"

North American Free Trade Agreement

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

Organization culture

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

True