Planned Economy and Quick Study

Topics: Planned economy, International trade, Mixed economy Pages: 23 (6097 words) Published: August 29, 2010

Quick Study 1 (p. 34)

1. Q: Define the term international business, and explain how it affects each of us.

A: International business is any commercial transaction that crosses the borders of two or more nations. International business involves each of us every day. We consume goods that originate outside our borders or that contain components made abroad. We also consume services, such as a news broadcast or music entertainment, that are sent to us from abroad.

Quick Study 2 (p. 36)

1. Q: Define globalization. How does denationalization differ from internationalization?

A: Globalization is the trend toward greater economic, cultural, political, and technological interdependence among national institutions and economies. It is a trend characterized by denationalization (in which national boundaries are becoming less relevant), and is different from internationalization (which refers to cooperation between national actors).

2. Q: List each benefit a company might obtain from the globalization of markets.

A: Globalization of markets refers to convergence in buyer preferences in markets around the world. Potential benefits for companies include: (1) reduced costs by standardizing marketing activities, (2) market opportunities abroad if home market is small or saturated, and (3) levels an income stream by letting international sales offset domestic sales for a company selling a global seasonal product.

Quick Study 3 (p. 43)

1. Q: What two main forces underlie the expansion of globalization?

A: The two forces underlying the expansion of globalization are: (1) falling barriers to trade and investment, and (2) technological innovation.

4. Q: What factors make some countries more global than others?

A: Four factors make a country more global: (1) political engagement, (2) technological connectivity, (3) personal contact, and (4) economic integration. The seven most global countries according to recent data are (beginning with first place): Singapore, Ireland, Switzerland, United States, Netherlands, Canada, and Denmark.


Quick Study 1 (p. 77)

1. Q: Define culture. How does ethnocentricity distort one’s view of other cultures?

A: Culture is the set of values, beliefs, rules, and institutions held by a specific group of people.

Ethnocentricity is the belief that one's own ethnic group or culture is superior to that of others.

Ethnocentricity distorts people’s views of other cultures because it views other cultures in terms of their own culture. In doing so, it causes one to overlook important human and environmental differences among cultures.

Quick Study 3 (p. 85)

1. Q: How do manners and customs differ? Give examples of each.

A: Manners are appropriate ways of behaving, speaking, and dressing in a culture. Customs are habits or ways of behaving in specific circumstances that are passed down through generations in a culture. The two differ from each other in that manners apply generally in a culture whereas customs apply to specific situations. An example of good manners is behaving in a modest manner and dressing conservatively in Japan. An example of a custom is the practice of arranging marriages on the behalf of children in India—just as it was a widespread custom across Europe several or more generations ago. Another custom is the playing of cricket in Britain and its former colonies including India and Australia.

3. Q: Identify the dominant religion in each of the following countries: (a) Brazil, (b) China, (c) India, (d) Ireland, (e) Mexico, (f) Russia, and (g) Thailand.

A: (a) Roman Catholic; (b) Buddhist, Taoist, and Confucian; (c) Hindu; (d) Roman Catholic; (e) Roman Catholic; (f) Eastern Orthodox; and (g) Southern Buddhist


Quick Study 1 (p. 335)

2. Q: Define what is meant by the term core...
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