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    51) Laissez-faire economics refers to ________. A) less government interference in commerce and greater individual economic freedom B) a government-controlled system with less economic freedom at the individual level C) a centrally planned economic system D) creating monopolies through government partnership   52) To function smoothly and properly, a market economy requires ________. A) government partnership B) the.

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    21) Material culture often displays uneven development across a nation's industries.   22) Businesspeople measure material culture to determine whether a market can support production activities.   23) People in collectivistic cultures are given freedom to focus on personal goals.   24) A culture with small power distance tends to be characterized by considerable inequality.

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    51) Which of the following terms is used to refer to the process of ranking people into social layers or classes? A) social transformation B) social stratification C) social loafing D) social mobility 52) ________ tend to occupy the highest social layer in industrialized countries. A) Teachers B) Scientists C) Medical doctors D) Business leaders   53) ________ refers to the.

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    41) Under ________ the government endorses private ownership of property and a market-based economy but grants little or no political freedom. A) left-wing totalitarianism B) theocratic totalitarianism C) secular totalitarianism D) right-wing totalitarianism 42) Which of the following terms is also used to refer to communism? A) tribal totalitarianism B) right-wing totalitarianism C) left-wing totalitarianism D) civil totalitarianism   43) Which.

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    41) ________ 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   42) ________ refers to the replacement of one culture's traditions, folk heroes, and artifacts with equivalents from another. A) Cultural imperialism B) Social stratification C) Cultural encoding D) Social conditioning   43) The sale of.

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    11) A culture's values tend to become more flexible over time.   12) Folk customs that spread by cultural diffusion to other regions develop into popular customs. 13) A nuclear family comprises of one's immediate family, along with grandparents, uncles, aunts, and cousins.   14) Social status is determined by family heritage, income, and occupation.   15).

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    11) Economic socialism won the battle over communist totalitarianism and capitalism. 12) A solid grasp of local values, customs, and traditions can help reduce a company's exposure to political risk.   13) Expropriation involves the forced transfer of assets from a company to the government without compensation.   14) Among asset seizure approaches, expropriation is.

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    1) The first step in analyzing a nation's potential for international business activity is to examine its business climate.   2) Ethnocentricity facilitates the establishment of new businesses abroad.   3) Subcultures mimic the values, preferences, and beliefs of dominant cultures.   4) Subcultures do not exist in democratic countries with large populations.   5) Hispanics comprise a.

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    51) Which of the following terms refers to the forced transfer of assets from a company to the government without compensation? A) expropriation B) nationalism C) nationalization D) confiscation   52) ________ is the forced transfer of assets from a company to the government with compensation. A) Expropriation B) Nationalization C) Confiscation D) Localization   53) ________ refers to the takeover of.

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    1) China relies on its cheap labor for economic development and India on the brainpower of its people.   2) Incentives and rewards for individual business initiatives are an important aspect of collectivist cultures.   3) Individualist cultures tend to offer fewer incentives and rewards than collectivist cultures.   4) Entrepreneurs are businesspeople who accept the.

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    41) France, Germany, and Sweden are examples of ________. A) centrally planned economies B) market economies C) closed economies D) mixed economies   42) In which of the following economies would manufacturing firms most likely produce defective products due to low incentives for quality outputs? A) centrally planned economies B) market economies C) closed economies D) mixed economies   43) The selling.

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    71) A special region in which companies can engage in tariff-free importing and exporting is called a(n) ________. A) preferential trade area B) export-processing zone C) customs union D) economic union   72) To minimize the economic inequality within developing nations, studies suggest that the nations can boost incomes of their poorest citizens by ________. A) rejecting.

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    71) Which of the following philosophies maintains that a company's sole responsibility is to maximize profits for its owners? A) utilitarian view B) righteous moralist view C) Friedman view D) cultural relativist view   72) The ________ view states that a company should adopt local ethics wherever it operates because all belief systems are determined within.

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    31) ________ political systems include democracies, constitutional monarchies, and some aristocracies. A) Totalitarian B) Anarchist C) Fascist D) Pluralistic 32) Konesia is a country whose political leaders do not tolerate opposing viewpoints and often suppress or punish dissidents. The lives of Konesians are tightly controlled by its rulers. Which of the following political systems prevails.

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    31) Which of the following statements is true of a centrally planned economy? A) Individual concerns are as important as the government's concerns. B) Consumers determine the prices of products and labor. C) Factories are privately owned. D) The government sets the production goals.   32) In most centrally planned economies that failed, ________. A) market conditions.

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    61) Shimmer and Sparkle is an American jewellery store which discovers that several shops in developing countries are selling counterfeited necklaces under their name and label. Which of the following problems are they facing? A) patent expiration B) trademark infringement C) copyright expiration D) monopolization 62) Which of the following is an example of a.

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    81) Ureshi Toys selling its products to Topsy Turvey Toys is an example of ________. A) outsourcing B) insourcing C) exporting D) importing   82) The products that Ureshi Toys manufactures are examples of ________. A) global products B) niche products C) intangible products D) customized products   83) Ureshi Toys is an example of a(n) ________. A) domestic company B) multinational company C) direct.

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    11) Central planning led to little economic growth and consistently low standards of living.   12) A centrally planned economy gives individuals access to alternative purchase options. 13) An economic system based on public ownership fosters growth much better than an economy based on private ownership.   14) The Chinese term "guanxi" means government ownership.   15).

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