Business Principles 1301

In foreign Licensing, Licensors run the risk that unethical Licensees may become their competitors, using information that they gained from the licensing agreement.

True

_ has high channel richness, and especially with state-of-the-art equipment, it conveys much of the richness of actually being there.

Videoconferencing

ideally, the opening of your business presentation will summarize your key points.

false

In the context of international trade restrictions, _____ are limitations on the amount of specific products that may be imported from certain countries during a given time period.

quotas

Carpe Diem

seize the day

Resorto, a European country, exported sugar worth $600 million between 2015 and 2016 and imported tea worth $750 million during the same period. In this scenario, Resorto most likely had a _____ between 2015 and 2016.

trade deficit

A benefit of using active voice in business communication is accountability.

true

A country has an absolute advantage when it can produce more of a good than other nations, using the same amount of resources.

true

Although a trade deficit signals the wealth of an economy that can afford to buy huge amounts of foreign products, a large deficit can be destabilizing.

true

American culture associates youth with creativity and independence.

true

Effective communication happens when one transmits relevant meaning to one's audience.

true

In the context of international trade, often countries with the highest trade barriers have the least competition.

true

In the context of the barriers to international trade, per capita income is a key factor that determines the economic differences between two countries.

true

In the context of the barriers to international trade, the infrastructural differences between two countries fall into the category of economic differences.

true

balance of payment includes financial flows such as foreign investment.

true

The government of Lebitz, a European country, learns that low-priced textile imports from Pruneia, an Asian country, are affecting the sales of domestic textile companies. The Lebitzian government decides to levy a 6% tax on all textile goods imported from other countries. In this scenario, which of the following trade restrictions does the Lebitzian government impose?

A tariff

Definition Caveat Emptor

Buyer Beware

the official inflation rate is tracked by calculating changes in a measure called the (CPI), which stands for:

Consumer price index

Regency Placade, a renowned European electronics company, wants to set up a subsidiary in Finim, an Asian country. After conducting a survey, the company finds that Finim lacks the resources required for production. Therefore, Regency Placade decides to abandon the idea. In this scenario, which of the following most likely affected Regency Placade's plan?

Limited access to factors of production.

who said humanity has won its battle, liberty now has a country?

Marquis de Lafayette

Openi, an island nation, is able to increase its textile production without having to compromise on the production of other materials. This is in contrast to other nations that need to lower the production of other materials to increase their textile production. In this scenario, Openi has a _____ in textile production.

comparative advantage

definition of duplicity

deceitfulness; dishonesty

Boson Corp., an American software development company, wants to expand its business in international markets. Therefore, it buys property in Greitch, a South Asian country, and sets up a production facility despite the high costs involved. In this scenario, Boson Corp. is most likely involved in _____.

direct investment

Rubicon Inc., an American guitar manufacturing company, signed a contract with a supplier in Umreia, an Asian country, to manufacture guitars. Rubicon then imported these products and sold them in its markets under its own brand name. Rubicon did this because of the availability of cheap labor in Umreia that substantially cut down Rubicon's cost of production. In this scenario, Rubicon is most likely involved in _____.

foreign outsourcing

In the context of the various roles, employees take up in an organization, who among the following is least likely to spend most of their time listening?

hourly employees

In the context of the barriers to international trade, establishing standards on how certain products are produced is most likely a(n) _____.

nontariff barrier