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Question
Explain the theory of market imperfections and describe the two major market imperfections.Answer
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Jeans Unlimited plans to set up new facilities that are designed specifically to reduce impact on the environment. The management has emphasized on recycling and reusing most of their resources. What concept is the company emphasizing on in this scenario?A) sustainabilityB) standardizationC) ethnocentricityD) industrialization
Q:
Which of the following statements is true of developing countries that have embraced globalization?
A) The countries have experienced an increase in life expectancy.
B) As a result of extensive commercialism, there has been a decline in personal income.
C) Relying upon developed countries for technology has rendered their talent pool stagnant.
D) Their rich cultural diversity hasn't been affected by exposure to new cultures.
Q:
Supporters and critics of globalization appear to agree that globalization prevents dislocation in labor markets.
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According to the opponents of globalization, which of the following occurs as a result of worker dislocation brought about by globalization?
A) increased labor costs for companies
B) lower workers' wages in developed nations
C) surfeit of jobs in developed nations
D) increased investment in individual education
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Export-processing zones are special areas in which companies engage in tariff-free importing and exporting.
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The General Agreement on Tariffs and Trade (GATT) was designed to promote free trade by reducing both tariffs and nontariff barriers to international trade.
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Two major forces that underlie the expansion of globalization are falling barriers to trade and investment, and ________.
A) elevation of nationalism
B) rise of closed economies
C) political stagnation
D) technological innovation
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Explain how technological innovation has benefitted entrepreneurs.
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Compare and contrast the world's three main political ideologies: anarchism, totalitarianism, and pluralism.
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Incentives and rewards for individual business initiatives are an important aspect of collectivist cultures.
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Pluralistic political systems include authoritarian regimes such as communism and fascism.
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The government maintains control over the banking industry in a country. Which of the following is most likely true if the country has a mixed economy?
A) Businesses in most economic sectors of the country are privately owned.
B) The government considers banking sector as important to national security.
C) The country has never experienced threats against its long-term stability.
D) The government views banking as more important than manufacturing.
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Democracies try to preserve peaceful coexistence among groups of people with diverse cultural, ethnic, and racial backgrounds. These rights are known as ________ rights.
A) indirect
B) central
C) subcapital
D) minority
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According to Hofstede's framework, a culture that scores low on ________ can change more rapidly because tradition and commitment are not impediments to change.A) masculinityB) individualismC) long-term orientationD) risk-taking
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According to Hofstede's framework, a culture with ________ values security and places its faith in strong systems of rules and procedures in society.
A) large uncertainty avoidance
B) low power distance
C) short-term orientation
D) high individualism
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Andy comes from a culture that emphasizes hard work and promotes the entrepreneurial spirit within individuals. While he and his coworkers are encouraged to achieve their personal goals, they are also held responsible for their actions. According to Hofstede's framework, which of the following dimensions does this culture illustrate?
A) feminity
B) individualism
C) high power distance
D) high uncertainty avoidance
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Which of the following terms refers to the technology used in a culture to manufacture goods and provide services?
A) vernacular culture
B) popular culture
C) trash culture
D) material culture
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Religion is confined to national political boundaries.
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Describe brain drain and its impact on an economy. What is reverse brain drain?
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Lingua franca is ________.
A) a language spoken by all countries in a continent
B) a form of non-verbal language adopted by all nations as the official language for business transactions
C) a unique language developed by Asian countries
D) a "link" language understood by two parties who speak different native languages
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Which of the following is the most common form of social stratification in the world today?
A) racial segregation
B) class system
C) gender-based division
D) language-based stratification
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A caste system is a system of social stratification in which ________.
A) a person's social status is decided by his acquired wealth
B) a person's position in society depends upon his educational qualifications and achievements
C) people are born into a social ranking, with no opportunity for social mobility
D) people join highly exclusive associations that encourage external interaction
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Folk customs that spread by cultural diffusion to other regions develop into ________.
A) trash culture
B) traditions
C) popular customs
D) superstitions
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A culture's values tend to become more flexible over time.
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________ facilitate(s) the process of cultural imperialism.
A) Strict product liability laws
B) Relaxed trade and investment barriers
C) Technological stagnation
D) Social media censorship
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Subcultures mimic the values, preferences, and beliefs of dominant cultures.
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Which of the following terms is used to refer to habits or ways of behaving in specific circumstances that are passed down through generations?
A) customs
B) attitudes
C) prejudices
D) aesthetics
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Which of the following terms is used to refer to the positive or negative evaluations, feelings, and tendencies that individuals harbor toward objects or concepts?
A) customs
B) attitudes
C) traditions
D) values
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Bob is a journalist who intends to spend the next five months exploring Konesia. In order to be able to fit in with the locals, he studies their culture in detail. He familiarizes himself with their tastes and preferences, takes note of their taboos, and memorizes many of their sayings and phrases. Which of the following terms best describes his actions?
A) material culture
B) popular culture
C) cultural imperialism
D) cultural literacy
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Kireki is a small country with a corrupt government. Its population is rural for most part and citizens have few or no legal rights. Which of the following is the type of market featured in Kireki?
A) developed market
B) traditional market
C) emerging market
D) virtual market