GB 350 Exam 2 (Cascio - Ole Miss)
Questions with Correct Answers
Masculinity (vs Femininity) - ANSWER-extent to which members prioritize
achievement, assertiveness and material rewards for success (vs cooperation,
caring for the weak and quality of life)
Uncertainty Avoidance Index - ANSWER-extent to which members want to maintain
control over future events (even if they cannot)
Long Term Orientation - ANSWER-extent to which members value adapting to
current changes in the environment to prepare for the future
Indulgence (vs Restraint) - ANSWER-extent to which members value need
gratification
Enthocentrism - ANSWER-viewing outside others and their cultural traditions through
the lens of our own culture
Cultural factors - ANSWER-Language/slang
Customs/traditions
Expectations for appropriate behavior in business interactions
Demographics to consider - ANSWER-Population growth
Population density
Age trends
Household income
Household status
Gender
______ and culture must be considered together - ANSWER-Demographics
Are demographics important? - ANSWER-YES
Multinationals - ANSWER-firms that engage in international trade beyond exporting
and importing
Tariff - ANSWER-Tax on a particular class of product or service to protect domestic
competition
Commonly used legal action
Example: WTO, China trade war
, Absolute Quota - ANSWER-maximum number of products that can be imported in a
given period
Example: Steel imports from Argentina, South Korea and Brazil can not exceed 500k
kgs/quarter
Tariff Rate Quota - ANSWER-maximum numbers of products that can be imported at
a reduced tariff
Example: Imported tuna in airtight containers: 14.9 kgs @ 6%; excess @ 12.5%
Embargo - ANSWER-ban on product/service trade activity with another country
Example: US Cuba Embargo
US Free Trade Agreements - ANSWER-Remove legal barriers from international
trade among their members.
Example: USMCA --> NAFTA
US-Mexico-Canada Agreement - ANSWER-removes tariffs on trade among those
countries
Natural Resources - ANSWER-materials from the earth that are used to meet
consumption needs
International trade can result from a country's shortage of __________ - ANSWER-
natural resources
Example: China has a significant amount of gold that they export to other countries
Economic Factors - US - ANSWER--Large land mass not bordered by hostile
governments
-Expansive coastline
-Farmland (large amount of export opportunity)
-Water
-Coal, oil and gas
-People (more immigrants than any other country)
Exchange Rate - ANSWER-value of one nation's currency expressed in terms of
another nation's currency
Balance of Trade - ANSWER-exports - imports
The United States has a policy on imported sugar from Brazil that is described as
follows: US businesses are allowed to import 300 kgs of sugar at a tariff rate of
6.2%. Any imports in excess of 300 kgs will be subject to a tariff of 12%. Which of
the following is described by this scenario?
A. Absolute Quota
B. Embargo
Questions with Correct Answers
Masculinity (vs Femininity) - ANSWER-extent to which members prioritize
achievement, assertiveness and material rewards for success (vs cooperation,
caring for the weak and quality of life)
Uncertainty Avoidance Index - ANSWER-extent to which members want to maintain
control over future events (even if they cannot)
Long Term Orientation - ANSWER-extent to which members value adapting to
current changes in the environment to prepare for the future
Indulgence (vs Restraint) - ANSWER-extent to which members value need
gratification
Enthocentrism - ANSWER-viewing outside others and their cultural traditions through
the lens of our own culture
Cultural factors - ANSWER-Language/slang
Customs/traditions
Expectations for appropriate behavior in business interactions
Demographics to consider - ANSWER-Population growth
Population density
Age trends
Household income
Household status
Gender
______ and culture must be considered together - ANSWER-Demographics
Are demographics important? - ANSWER-YES
Multinationals - ANSWER-firms that engage in international trade beyond exporting
and importing
Tariff - ANSWER-Tax on a particular class of product or service to protect domestic
competition
Commonly used legal action
Example: WTO, China trade war
, Absolute Quota - ANSWER-maximum number of products that can be imported in a
given period
Example: Steel imports from Argentina, South Korea and Brazil can not exceed 500k
kgs/quarter
Tariff Rate Quota - ANSWER-maximum numbers of products that can be imported at
a reduced tariff
Example: Imported tuna in airtight containers: 14.9 kgs @ 6%; excess @ 12.5%
Embargo - ANSWER-ban on product/service trade activity with another country
Example: US Cuba Embargo
US Free Trade Agreements - ANSWER-Remove legal barriers from international
trade among their members.
Example: USMCA --> NAFTA
US-Mexico-Canada Agreement - ANSWER-removes tariffs on trade among those
countries
Natural Resources - ANSWER-materials from the earth that are used to meet
consumption needs
International trade can result from a country's shortage of __________ - ANSWER-
natural resources
Example: China has a significant amount of gold that they export to other countries
Economic Factors - US - ANSWER--Large land mass not bordered by hostile
governments
-Expansive coastline
-Farmland (large amount of export opportunity)
-Water
-Coal, oil and gas
-People (more immigrants than any other country)
Exchange Rate - ANSWER-value of one nation's currency expressed in terms of
another nation's currency
Balance of Trade - ANSWER-exports - imports
The United States has a policy on imported sugar from Brazil that is described as
follows: US businesses are allowed to import 300 kgs of sugar at a tariff rate of
6.2%. Any imports in excess of 300 kgs will be subject to a tariff of 12%. Which of
the following is described by this scenario?
A. Absolute Quota
B. Embargo
