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