Examen 2

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

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

Cultural relativism

Which of the following is true regarding culture?

Culture is not static.

The most widely spoken language in the world is

English

Folkways do not include rituals and symbolic behavior.

False

Heckscher-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 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 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

David Ricardo's theory of comparative advantage explains:

International trade in terms of international differences in labor productivity

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

Mercantilism

In the opening case of Chapter 6, ___ was the free trade deal that Prez Donny Boi called "the worst trade deal maybe ever singed anywhere"

NAFTA

___ 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

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

Organization culture

OECD stands for

Organization for Economic Cooperation and Development

___ recognize that human beings have fundamental rights and privileges which transcend national boundaries and cultures.

Rights theories

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

True

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

True

Social responsibility refers to the idea that business people 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

___ is the official ethical system of China.

___ is the official ethical system of China.

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

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

stakeholders

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

values