international business

The most rigid system of social stratification is a class system

False

democracy countries

France Germany India

in industries where economies of scale are important both the variety of goods that a country can produce and the scale of production are limited by the size of the market

true

Which of the following observations is consistent with Michael Porter theory of national competitive advantage

Factors such as domestic demand and domestic rivalry determine nations dominance on production

critics of globalization maintain that the apparent decline in real wage rates of unskilled workers owes far mor to a technology induced shift within advanced economies toward jobs that require significant education and skills

False

a capital intensive country exports products that require capital intensive. which theory is this an example of?

Heckscher-ohlin

which of the following is true about planned economies

In a planned economy, the state owns all means of production.

which of the following is a consequence of globalization?

Increasing outsourcing of services

Individualism Countries

USA, Germany, Australia

Hofstede results as might be expected showed that nations such as --- scored low on long term orientation

United States and Canada

which organization is responsible for policing the world trading system

World Trade Organization

The role of the government in a market economy involves

encouraging vigorous free and fair competition among private producers.

the emphasis on individualism in the United States results in which of the following advantages

executives are exposed to different ways of doing business

peters diamond of competitive advantage includes all of the following except

first-mover advantage

the theory of comparative advantage provides strong rationale for supporting the idea of

free trade

Totalitarianism Countries

north Korea Korea p

R& D division of a company has recently designed a new coffee vending machine that is likely to sell very well in the market. it is compact user-friendly and provides unprecedented efficiency in term of cost per cup. consequently the company fears that its competitors would soon mimic the design of their product and to protect its products it is now seeking a

patent

other things being equal, the benefit-cost-risk trade off is likely to be most favorable in

politically stable developed and developing nations that have free market system

the ___ dimension of Hofstede study explores how a society deals with the fact that people are unequal in physical and intellectual capabilities

power distance

which of the following argues that it is in a country's best interest to maintain a trade surplus?

principle of mercantilism

in several western democracies the poor performance of state-owned enterprises because of protection from competition and guarantees government financial support led to

privatization

which is not a factor of production?

trade

which of the following arises when a country is exporting more goods and services than it is importing

trade surplus

In mixed economies, government also tend to take into state ownership troubles firms whose continued operations is thought to be vital to national interest

true

The theories of Smith and Ricardo show that a country should engage in international trade even for products that it is able to produce for itself

true

Collectivism Countries

Panama, Russia, South Korea

command economy

An economic system in which the government controls a country's economy.

mixed economy

An economy in which private enterprise exists in combination with a considerable amount of government regulation and promotion.

a political system that stresses the primacy of collective goals over individual goals is called

Collectivism

market economy

Economic decisions are made by individuals or the open market.

the group is the primary unit of social organization in

Japan

Which is not a primary determinant of a nation's rate of economic development

currency