Exam (elaborations)
MGT 111 Chapter 3 Questions And Answers Latest Update
- Course
- MGT 111
- Institution
- University Of Illinois - Chicago
MGT 111 Chapter 3 Questions And Answers Latest Update
[Show more]
Content preview
Solution 2024/2025Pepper
MGT 111: Chapter 3 Questions And Answers
Latest Update
Culture ANS✔✔ Shared system of symbols, beliefs, attitudes, values,
expectations, and norms for behavior.
Stereotyping ANS✔✔ Assigning a wide range of generalized attributes which
are often superficial or even false, to an individual based on his or her
membership in a particular culture or social group.
Ethnocentrism ANS✔✔ Judging all other groups according to the standards,
behaviors, and customs of one's own group.
Trading Blocs ANS✔✔ Organizations of nations that remove barriers to trade
among heir members and that establish uniform barriers to trade with
nonmember nations.
protectionism ANS✔✔ Government policies aimed at shielding a country's
industries from foreign competition.
tariffs ANS✔✔ taxes levied on imports
import quotas ANS✔✔ limits placed on the quantity of imports a nation will
allow for a specific product.
, Solution 2024/2025
Pepper
embargo ANS✔✔ A total ban on trade with a particular nation (a sanction) or
of a particular product.
export subsidies ANS✔✔ A form of financial assistance in which producers
receive enough money from the government to allow them to lower their
prices in order to compete more effectively in the global market.
dumping ANS✔✔ Charging less than the actual cost or less than the home-
country price for goods sold in other countries.
free trade ANS✔✔ International trade unencumbered by restrictive
measures.
Balance of payments ANS✔✔ the sum of all payments one nation receives
from other nations minus the sum of all payments it makes to other nations,
over some specified period of time.
Exchange rate ANS✔✔ the rate at which the money of one country is traded
for the money of another.
Trade Suplus ANS✔✔ A favorable trade balance created when a country
exports more than it imports.
Trade deficit ANS✔✔ An unfavorable trade balance created when a country
imports more than it exports.
economies of scale ANS✔✔ savings from buying parts and materials,
manufacturing, or marketing in large quantities.
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 Schoolflix. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $13.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
75759 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now