Exam (elaborations)
AGB 302 EXAM ASU Questions and Verified Answers.
- Course
- Institution
AGB 302 EXAM ASU Questions and Verified Answers.AGB 302 EXAM ASU Questions and Verified Answers.AGB 302 EXAM ASU Questions and Verified Answers.
[Show more]
Content preview
AGB 302 EXAM ASU Questions and VerifiedAnswers.
ethics - ANS the principles of right and wrong that guide an individual in making
decisions
ethical strategy - ANS a course of action that does not violate a company's business
ethics
Friedman Doctrine - ANS the only social responsibility of business is to increase profits,
so long as the company stays within the rules of law
Culturual Relativism - ANS belief that cultures should be judged by their own standards
Utilitarian Approach - ANS guided by what will result in the greatest good for the
greatest number of people
john rawls - ANS veil of ignorance
A class system is more or less rigid than a caste - ANS less
Max Weber - ANS the Protestant Ethic and the Spirit of Capitalism
Buddhism does not support - ANS the caste system
Tragedy of the commons - ANS people acting individually and in their own interest use
up commonly available but limited resources
Facilitating payments - ANS Payments made to foreign officials to ensure that there is
no obstruction to the transaction.
Nobles Oblige - ANS idea that they upper classes have the responsibility/right to take
care of those under them
Free trade - ANS international trade left to its natural course without tariffs, quotas, or
other restrictions.
David Ricardo - ANS theory of comparative advantage
Huckster Ohlin - ANS export goods that make intensive use of factors that are locally
abundant
Raymond Vernon - ANS Product life cycle theory
, New trade theory - ANS countries specialize because in certain industries the world
market can only support a limited number of firms (entering the market early is better)
Mercantilism - ANS max exports min imports (ZERO-SUM GAME)
Absolute advantage creator - ANS Adam smith
When is pp. a straight line - ANS constant return to specialization?
Diminishing returns - ANS benefit from an extra unit of an input declines as the quantity
of the input increases
Product Life Cycle Theory - ANS observation that most new world products are from the
U.S.
Economies of scale - ANS unit cost reductions associated with a large scale of output
(reduced ability to make variety)
Porter's Theory of National Competitive Advantage - ANS -factor endowments
-demand conditions
-related and supporting industries
-firm strategy, structure, and rivalry
Firms involved with international trade influence - ANS government policy
Voluntary export restraint - ANS a quota on trade imposed by the exporting country
What is the goal of tariff rate quotas - ANS limit imports over quota
How does a voluntary export restraint benefit domestic producers - ANS limiting import
competition?
Dumping - ANS Selling goods in another country below market prices
Smoot-hawley act - ANS protected American industries during the great depression
Removing tariff barriers in agriculture could - ANS lower prices to consumers
Uruguay round - ANS extended gets rules to cover trade in services
Millennium round - ANS further reduced barriers to cross border trade and investment
Ad volleyed tariffs - ANS levied as a proportion of the value of the imported good
Quota rent - ANS extra profit producers make when supply is artificially limited by an
import quota
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Lectjoe. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $23.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
78998 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now