International Business Unit 2 Test Review

Cultures where people are considered superior  due to social status, gender, race, age, education, etc

An example of this type of indicator is New Housing Construction?

Canada perceives time in a polychronic way

This is the top of the business cycle where the economy stops expanding and begins contracting.

Which of the following is not a characteristic of a Developed Country

High Collectivist Cultures value the greater good and many of their members have their future prescribed by the gov.

The garment industry in Bangladesh is an example of what impact on the labour market?

______ refers to the degree that a culture values assertiveness, competitiveness, ambition and the accumulation of money

The term trough is reserved for long lasting troughs

Culture can be formed by

Which of the following is not a way that culture impacts business meetings?

How do Mixed Economies view competition?

North Korea is an example of a Market Economy

This cultural influence in the work place measures how the difference in power among people is perceived. 

This type of time perception is structured, linear, sequential, focuses on one thing at a time in a logical progression

This type of economy can be categorized by the government controlling all elements of economy.

There are no true Market Economies in the world but the USA is the closest.

This culture prays 5 times a day, eats no pork, has a weekend from Thurs. to Sat and is influenced by Islam

Canada can be classified as a highly feminine country

Coincident Indicators, such as Unemployment Rate, do not adjust until after the economy has experienced change

What type of economic indicator predicts where an economy is headed?

These cultures value thrift and perseverance to achieve long-term goals.

This cultural influence on the work place considers how well a country adapts to change

In what day does International Business impact services?

This refers to individual comfort levels with regards to personal space and physical contact. 

Recession is the lowest point of the business cycle

This culture values status. For example, an older person will have a higher status than a younger person.

When a country stops making what they are worse at and focuses what they are best at producing it is called:

Which of the following is not a consideration a business should make before expanding internationally?

How does a Market Economy view profit?

This culture's meetings are often silent with only one person speaking/making noise.

How do Centrally Planned economies view private property?

Which of the following is not a disadvantage/issue with a Democratic government

________ is giving up something to get something else

Autocratic governments are ruled by a single individual or small group of people

This part of the business cycle is categorized by economic growth, increased investments and growth in employment.

This type of government tends to focus on short-terms goals, and sometimes has unfair representation for minorities

Which of the following is not a characteristic of a Market Economy?

Which of the following is not a question that defines a country's economic system?

Which of the following does not categorize an underdeveloped country

This cultural influence refers to the extent in which people are expected to make their own life decisions

Which of the following is not a way that culture impacts the labour market?

What culture requires you to bring a gift to a business meeting?

International business impacts products by affecting the exports of manufactured goods.

Who has the absolute advantage for apples in the following scenario:

Canada does not adapt to change and has a high uncertainty avoidance

A Recession can be categorized by 2 consecutive quarters of GDP decline

A country has a comparative advantage when they have a lower opportunity cost

In the following scenario, who has the lower opportunity cost for Steel?

This is when a group forms by openly rejecting the cultural values that surround them by opposing the mainstream values.