BBB4M - Unit 2

The _______________________ is the cost of giving something up to get something else.

A delegation of government and business representatives visiting another country in order to promote business opp

A country that is predominately agriculture or resource based, lacks social services and has poor infrastructure

Economic and political systems are not closely linked

A country’s cultural determinants, the things that shape its culture, include:

The knowledge, experience, beliefs, values, attitudes, religion, symbols, and possessions acquired by people over time

_______________________ are experts in their area and work with politicians to help influence public policy and c

Emerging country that is involved in global trade, is growing quickly and provides opportunities and threats to Canada

Which phase of the Business Cycle includes the economy slowing down?

In this type of economy, consumers have few choices and the government controls all elements of the economy

_______________________ provide services for Canadians travelling, studying, living, and working abroad.

Where the leaders are elected by a majority of the people in the country in a vote.

Most people are members of more than one subculture.

Our globalized world demands cross-cultural expertise. 

Comparative advantage is the foundation for specialization and trade

The type of government by which a country is run. 

Economic indicators that predict where the economy is headed are called 

The four phases in the business cycle

Which of the following is NOT one of the dimensions from Hofstede's study of values?