INTB 200 EXAM 1 2025 UPDATE
QUESTIONS AND CORRECT VERIDIED
ANSWERS ALREADY GRADED A+
(BRAND NEW VISION)
Culture - ANS-System of shared values and norms in a society
Values - ANS-Ideas about what is good right and desirable
Norms - ANS-Social rules for appropriate behavior
Folkways - ANS-Routine conventions of everyday behavior
Mores - ANS-Norms central to a society's functioning
Class System - ANS-Social system with high mobility
Caste System - ANS-Social system with little or no mobility
Cross Cultural Literacy - ANS-Understanding how cultural differences
affect business
Hofstede Framework - ANS-Tool for analyzing national cultural
differences
GLOBE Study - ANS-Research on culture and leadership across countries
World Values Survey - ANS-Global survey measuring cultural values
, Mercantilism - ANS-Trade theory viewing trade as zero sum favoring
exports
Absolute Advantage - ANS-When a country produces a good more
efficiently
Comparative Advantage - ANS-When a country produces a good at
lower opportunity cost
Heckscher Ohlin Theory - ANS-Countries export goods using abundant
factors
International Product Life Cycle Theory - ANS-Trade patterns change
as products mature
New Trade Theory - ANS-Government support can create first mover
advantages
Competitive Advantage of Nations - ANS-Nations succeed based on
firm strategy structure and rivalry
Tariff - ANS-Tax on imported goods
Subsidy - ANS-Government payment to domestic producers
Import Quota - ANS-Limit on quantity of imports
Voluntary Export Restraint - ANS-Export limit imposed by exporting
country
Local Content Requirement - ANS-Requirement that part of a product
be produced domestically
QUESTIONS AND CORRECT VERIDIED
ANSWERS ALREADY GRADED A+
(BRAND NEW VISION)
Culture - ANS-System of shared values and norms in a society
Values - ANS-Ideas about what is good right and desirable
Norms - ANS-Social rules for appropriate behavior
Folkways - ANS-Routine conventions of everyday behavior
Mores - ANS-Norms central to a society's functioning
Class System - ANS-Social system with high mobility
Caste System - ANS-Social system with little or no mobility
Cross Cultural Literacy - ANS-Understanding how cultural differences
affect business
Hofstede Framework - ANS-Tool for analyzing national cultural
differences
GLOBE Study - ANS-Research on culture and leadership across countries
World Values Survey - ANS-Global survey measuring cultural values
, Mercantilism - ANS-Trade theory viewing trade as zero sum favoring
exports
Absolute Advantage - ANS-When a country produces a good more
efficiently
Comparative Advantage - ANS-When a country produces a good at
lower opportunity cost
Heckscher Ohlin Theory - ANS-Countries export goods using abundant
factors
International Product Life Cycle Theory - ANS-Trade patterns change
as products mature
New Trade Theory - ANS-Government support can create first mover
advantages
Competitive Advantage of Nations - ANS-Nations succeed based on
firm strategy structure and rivalry
Tariff - ANS-Tax on imported goods
Subsidy - ANS-Government payment to domestic producers
Import Quota - ANS-Limit on quantity of imports
Voluntary Export Restraint - ANS-Export limit imposed by exporting
country
Local Content Requirement - ANS-Requirement that part of a product
be produced domestically
