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Foundations of Business
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TEST BANK FOR FOUNDATIONS OF BUSINESS, 6TH EDITION BY WILLIAM M. PRIDE, ROBERT J. HUGHES, JACK R. KAPOOR
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Foundations of Business
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Foundations of Business
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Solution Manual for Global Business, 5th Edition by PengMike, Verified Chapters 1 - 17, Complete Newest Version
Many believe that globalization has created a convergence in ______ - ANSWER:
Consumer taste references
Labor, energy, land, and capital a country relies on to source goods and services are
known as - ANSWER: Factors of production
During early globalization efforts outsourcing was typically confined to what type of
activity - ANSWER: Manufacturing
Which global institution has focused on making low interest loans to governments?
Such as building a road or bridge. - ANSWER: The World Bank
Countries that receive loans from the IMF are required to do what - ANSWER: Adopt
specific economic policies to attain globalization
What was the main goal of GAAT? - ANSWER: Reduce trade patterns
One result of the Uruguay round was - ANSWER: Enhance protection for patents,
trademarks, and copyrights
While lowering the trade barriers the globalization of markets and production
theoretical possibility, what has made it a tangible reality - ANSWER: Advances in
communication, information processing, and transportation technology
A positive economic change from 1960 to 2018 was seen in the____ - ANSWER:
Share of world output, by developing countries
One advancement that has lowered the barriers many small firms face when building
international sales - ANSWER: The internet
Growing income and income equality between the skilled and unskilled workers in
advanced nations like the United States is a result of - ANSWER: Wages for skilled
workers are being bit up by the labor market, wages for unskilled workers are being
discounted
The North America free trade agreement known as NAFTA is an agreement between
what countries - ANSWER: United states, Canada, Mexico
One suggestion for helping poor countries enjoy the benefits of free trade is for
richer nations to reduce barriers to imported products from those nations
particularly for textiles and what other kinds of products - ANSWER: Agriculture
, Karl Marx promoted the idea of a ______ society in which the state owned the
means of production, distribution and exchange - ANSWER: Socialist
Those who attempt to achieve the same ideologies as that of communists without
violent revolution and totalitarian dictatorship are called ______ - ANSWER: Social
democrats
Today communism, which includes state control over all economic activities the
political norm found where ____ - ANSWER: Small fringe nations
The sale of state-owned enterprises to independent non-public investors is referred
to as what? - ANSWER: Privatization
What is the central message of individualism? - ANSWER: Individual economic and
political freedoms are the rules on which society should be based
The _____ system of a country encompasses the rules and regulations of behavior -
ANSWER: Legal System
Which legal system is based on tradition, precedent, and custom? - ANSWER:
Common Law
Under a civil law system, it is the responsibility of the judge to uphold and _____ -
ANSWER: Apply the law
Grease payments or speed money are allowable under US law as a way to ___ -
ANSWER: Expedite the performance of a routine government action
Bret Robertson is a playwright and in order to protect is intellectual property he
should secure ____ on all of his plays - ANSWER: Copyright
Products of the mind such as computer software, a screen play, music score, or a
chemical formula for a new drug constitute ______ - ANSWER: Intellectual property
Purchasing power parody is used to adjust gross national income in order to make a
more direct comparison of _____ - ANSWER: Living standards
As a result of _____ large amounts of economic activity in India are not made official
and the GEP figures the country failed to tell the entire story. As a result of ______
large amounts of economic activity in India are not being recorded. - ANSWER:
Unrecorded cash transaction
According to the human development index, average income adjusted for PPP
should be sufficient to _____ - ANSWER: Human development
The average income if you're looking at human development for PPP should be
sufficient to - ANSWER: Provide basic needs; such as food and shelter
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