Heckscher ohlin theory - Study guides, Class notes & Summaries

Free trade Correct Answer a situation in which a government does not attempt to influence through quotas or duties what its citizens can buy from another country or what they can produce and sell to another country Comparative advantage Correct Answer the intellectual basis of modern argument for unrestricted free trade David Ricardo Correct Answer comparative advantage Heckscher-Ohlin Theory Correct Answer The theory that a country will export goods that make intensive use of the facto...

ethics - Answer-the principles of right and wrong that guide an individual in making decisions ethical strategy - Answer-a course of action that does not violate a company's business ethics Friedman Doctrine - Answer-the only social responsibility of business is to increase profits, so long as the company stays within the rules of law Culturual Relativism - Answer-belief that cultures should be judged by their own standards Utilitarian Approach - Answer-guided by what will result in...

AGB 302 Quiz 3 | Questions and Correct Solutions 2024 Free Trade - Answer -refers to a situation where a government does not attempt to influence through quotas or duties what its citizens can buy from another country New trade theory - Answer -Stresses that in some cases countries specialize in the production and export of particular products because the world market can support only a limited number of firms Mercantilism - Answer -supports the idea that countries should export more than ...

Base of the pyramid (BOP) - correct answer - Economies where people make less than $2,000 per capita per year. BRICA - correct answer - Brazil, Russia, India, and China. Emerging economies - correct answer - term that has gradually replaced the term "developing countries" since the 1990s. Emerging markets - correct answer - A term that is often used interchangeably with "emerging economies." Expatriate manager - correct answer - A manager who works abroad, or "expat" for short....

Globalization The close integration of countries and peoples of the world. Purchasing Power Parity (PPP) A conversion that determines the equivalent amount of goods and services that different currencies can purchase. Scenario Planning A technique to prepare and plan for multiple scenarios (either high or low risk). Risk management The identification and assessment of risks and the preparation to minimize the impact of high-risk , unfortunate events. Gross Nationa...

WGU C211 - Global Economics for Managers Final Exam - All Reading (Answered Fall 2022) Base of the pyramid (BOP) Economies where people make less than $2,000 per capita per year. BRICA Brazil, Russia, India, and China. Emerging economies term that has gradually replaced the term "developing countries" since the 1990s. Emerging markets A term that is often used interchangeably with "emerging economies." Expatriate manager A manager who works abroad, or "expat" for short. Foreig...

Assume that labor is the only factor of production and that wages in the United States equal $20 per hour while wages in Japan are $10 per hour. Production costs would be lower in the United States as compared to Japan if A. U.S. labor productivity equaled 40 units per hour and Japan's 15 units per hour. B. U.S. productivity equaled 30 units per hour whereas Japan's was 20. C. U.S. labor productivity equaled 20 and Japan's 30. D. U.S. labor productivity equaled 15 and Japan's 25 units...

________ refers to a situation where a government does not attempt to influence through quotas or duties what its citizens can buy from another country. correct answersFree trade ________ stresses that in some cases countries specialize in the production and export of particular products because the world market can support only a limited number of firms. correct answersNew trade theory ________ supports the idea that countries should export more than what they import. correct answersMerca...

WGU D080 Managing in a Global Business Environment 2023/2024 with complete solution Questions What is globalization? The key element of globalization is interdependence and interconnectedness among companies and countries around the globe. Globalism is characterized by an increasing number of worldwide connections, rapid and discontinuous change, an increasing number of diverse participants, and growing complexity. What are the economic, political, and cultural effects of globalization? ...

2024: Managing in a Global Business Environment- D080 Final Exam Review |100% Correct Answers| The key element of globalization is interdependence and interconnectedness among companies and countries around the globe. Globalism is characterized by an increasing number of worldwide connections, rapid and discontinuous change, an increasing number of diverse participants, and growing complexity. What is globalization? economic: developed economies integrating with developing countries...