BUSI 3250 Exam 2 | Verified with 100% Correct Answers
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BUSI 3250
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BUSI 3250
BUSI 3250 Exam 2 | Verified with 100% Correct Answers Nationalization is also called Expropriation the taking of private property by a government to make it public Nationalization US Government took over ownership of what company during crisis of ? GM the selling of government owned property to t...
the taking of private property by a government to make it public
Nationalization
US Government took over ownership of what company during crisis of 2008-2009?
GM
the selling of government owned property to the private sector to gain more efficiency in
business operations, to raise money or to change in political climate/philosophy
Privatization (why governments sell businesses)
Protect the economic activities of citizens. Unfair competition is minimized through
national laws, negotiations between governments, efforts of institutions like World Bank
Unlawful acts of violence committed for a wide variety of reasons
Terrorism
What provides a source of operating funds for terrorists?
Kidnapping
Hijacking and kidnapping on the seas
Piracy
Any illegal Internet-mediated activity that takes place in electronic networks
Cybercrime
North Korea tries to hack Pfizer for COVID data is an example of?
Cybercrime
What are four areas of increasing concern to governments?
protection from terrorism, piracy, kidnapping, cybercrime and other threats
Country Risk Assessment
An assessment of a country's economic situation and politics to determine how much
risk to employees, property, and investment exists for the firm doing business there
6 reasons for restricting trade
Provide for National Defense, Impose Sanctions, Protect an Infant or Dying Industry,
Protect Domestic Jobs, Ensure Fair Competition, Retaliate
, While trade is promoted - in 1982 ag tariffs averaged _______% - in comparison
manufactured good tariffs=____%
62%; 4%
Reasons to restrict trade to provide for national defense
-Certain industries need protection from imports because they are vital to security
-economists say this is a weak argument
Reasons to restrict trade to impose sanctions
-Inflict economic damage, punish, or encourage change of behavior
-Seldom achieve their goal
-Produce collateral economic damage
Reasons to restrict trade to Protect an Infant or Dying Industry
-Give infant industries a chance to grow and build comparative advantage
-Without this, lower-cost imports will underprice in local market
-Slow down impact of dying industry—move capital into other sectors
US first pass a law against foreign goods dumping in 1916. No law against US
companies dumping abroad though
Example of retaliation
Dumping is defined in 3 ways
- selling a product abroad for less than cost of production
- selling product abroad for less than price in home market
- selling product abroad for less than price to third-party countries
Predatory dumping
setting price below another country's to put them out of business/competition
Social dumping
when producers have lower wage rates, lower social costs (unemployment taxes and
env. regulations) poor worker benefits, poor working conditions
Environmental dumping
when an exporter can sell at lower costs due to the country's loose environmental
standards
Taxes on imported goods for the purpose of raising their price to reduce competition for
local producers or stimulate local production
Tariffs
An import duty levied as a percentage of the invoice value of imported goods
Ad Valorem Duty
Nontariff barriers are
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