International Business Exam I Review

______ measures the total annual income received by residents of a country.

______ refers to the process of selling state-owned enterprises to private investors.

What is a closed system of stratification in which social position is determined by the family a person is born into

Economic progress often leads to

An international firm, entering a country's market early, may achieve a significant payback

A(n) ______ is any entity that conducts business in at least two countries.

The opponents of globalization argue that falling barriers to international trade will

If you were to describe the global economy of the twenty-first century, it would be accurate to say that

Which term refers to the shift toward a more integrated and interdependent world economy?

Jeffrey Sachs argued that the ______ of a nation can have an impact on economic development.

The routine conventions of living, thinking, and acting in a group are called ______.

The term ______ refers to the interconnection of the political, economic, and legal systems of a country.

The division between poor and rich countries has decreased with the advent of globalization

Global institutions are needed to _____.

______ involves removing legal restrictions, typically in the economic sphere.

What is a characteristic of mores?

______ refers to a political system that values the needs of society over that of an individual.

A country that bases its laws on traditions within the country's legal history operates under a law ______ legal system.

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What is one of the steps that pave the way for a shift toward a market-based economic system?

Which of the following factors is NOT used to determine the Human Development Index of a country?

During the 1960s, which country was the predominant world power in terms of foreign direct investment?

What are three of the determinants of culture?

What has strongly influenced the development of modern extended social groups?

The concept of understanding the prevailing culture in countries that you do business in is known as what?

The production of goods in a pure market economy is determined by

In a social context, the term values is used to describe the

A ______ grants an inventor exclusive rights for a defined period to the manufacture, use, or sale of their invention.

In some countries, some industries are privately owned while others are state-owned. This is a(n) ________ economy