6. A market economy mean that

A. production is privately owned and determined by supply and demand

1. In a command economy, ___.

A. the government decides what is produced and the price it is sold.

4. What are the six elements of PESTLE?

Political, Economic, Social, Technological, Legal, and Environmental

2. Characteristics of a growing economy are __

B. production & foreign investment increasing, unemployment decreasing.

3. Which of the following is the most critical difference between domestic business and international business?

D. The environment in which business plans must be implemented

5. A theocracy is ___

B. a country ruled by a religious government.

8. An example of cultural factor that can affect international business is

C. the major religion prohibits the use of alcohol in any food products

7. Social structure is best defined as....

C. overall framework determines the roles of individuals within a society

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Answers

1
6. A market economy mean that
D. production is state owned and determined by the government
B. production is state owned and determined by supply and demand
C. production is privately owned and determined by the government
A. production is privately owned and determined by supply and demand
2
1. In a command economy, ___.
B. households decide what is produced and the price it is sold.
A. the government decides what is produced and the price it is sold.
C. private companies decide what is produced and the price it is sold.
D. investors decide what is produced and the price it is sold.
3
9. In Japan, a collectivist society, a CEO's pay primarily reflects....
B. group performance
C. personal accomplishments
A. knowledge
D. individual contributions to the firm
4
10. In a high...............culture, individuals are more likely to prefer formal rules and standards in the workplace
A. power distance
D. uncertainty avoidance
C. uncertainty acceptance
B. power tolerance
5
4. What are the six elements of PESTLE?
Peace, Elements, Search, Tape, Legal, and Environment.
Political, Economic, Social, Technological, Legal, and Environmental
Political, Strength, Economic, Technological, Environmental, and Legal
Power, Environment, Science, Teaching, Legal, and Education
6
2. Characteristics of a growing economy are __
C. production & foreign investment decreasing, unemployment increasing.
D. production & unemployment increasing, foreign investment decreasing.
B. production & foreign investment increasing, unemployment decreasing.
A. production& unemployment decreasing, foreign investment increasing
7
3. Which of the following is the most critical difference between domestic business and international business?
B. The change in marketing goals
A. The change in corporate objectives
C. The different concepts of business
D. The environment in which business plans must be implemented
8
5. A theocracy is ___
C. a country ruled by a liberal government.
A. a country ruled by a capitalist government.
B. a country ruled by a religious government.
D. a country ruled by a socialist government.
9
8. An example of cultural factor that can affect international business is
D. the change in interest rate of the commercial banks
B. consumer protection laws require expensive packaging
C. the major religion prohibits the use of alcohol in any food products
A. the weather is too hot for selling icecream products
10
7. Social structure is best defined as....
D. behavior, opportunities available to MNC's operating in a given society
C. overall framework determines the roles of individuals within a society
B. attitudes of MNEs towards corporate social responsibility
A. means by which a society's members communicate with each other

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