VIVINT STUDY GUIDE FINAL HIGH-YIELD
INSTALLATION, TROUBLESHOOTING, AND
CUSTOMER SERVICE SUMMARY 2026
◉ product life cycle theory.
Answer: as products mature both in location of sales and optimal
production, location will change, affecting flow and direction of
trade
◉ national competitive advantage: porter's diamond.
Answer: Diamond, four attributes to explain why a country gains a
competitive advantage in an industry, strategic management
concept.four attributes:
1. firm strategy, structure, rivalry
2. factor endowments
3. related and supporting industries
4. demand conditions
◉ comparative advantage.
Answer: a country should specialize in production of goods that it
produces more efficiently and buy gods that it produces less
efficiently from other countries. results from trade = positive sum
game
,◉ heckscher-ohlin theory.
Answer: comparative advantage reflects differences in national
factor endowments:
1. land 2. labor 3. capital.
Theory has commonsense appeal: export goods that make intensive
use of factors that are locally abundant, import goods that make
intensive use of factors that are locally scarce
◉ forces in the macro-environment.
Answer: -demographic forces
-economic forces
-sociocultural forces
-technological forces
-ecological forces
-political forces
◉ political system.
Answer: the system of government in a nation. two dimensions: the
degree to which they emphasize collectivism as opposed to
individualism and the degree to which they are democratic or
totalitarian
,◉ collectivism.
Answer: System that stresses the primacy of collective goals over
individual goals.
-Society should be stratified into classes.
-Property should be owned in common.
-Needs of society > individual freedoms.
◉ individualism.
Answer: Suggests individuals should have freedom over economic
and political pursuits.
-Individual freedom and self-expression.
-Letting people pursue self-interests to achieve the best overall good
for society.
-Democratic systems and free markets.
◉ Democracy.
Answer: -Political system in which government is by the people,
exercised either directly or through elected representatives.
-Freedom of expression, opinion, and organization; free media;
regular elections; universal adult suffrage; limited terms for elected
officials; fair court system, etc.
◉ totalitarianism.
, Answer: -Form of government in which one person or political party
exercises absolute control over all spheres of human life.
-Widespread political repression; no free and fair elections; media
censorship; basic civil liberties are denied; challenges to regime are
prohibited.
◉ pseudo democracy.
Answer: -System which lies between pure democracy and complete
totalitarianism.
-Authoritarian elements capture much of the machinery of state and
use this to deny basic political and civil liberties.
◉ Economic Systems.
Answer: -Definition: a set of organized principles that regulate the
production and distribution of goods, services and productive
factors.
Three types of economic systems:
-market economy,
-command economy
-mixed economy
◉ market economy.
Answer: Supply and demand determine goods and services a
country produces and the quantity in which they are produced.
INSTALLATION, TROUBLESHOOTING, AND
CUSTOMER SERVICE SUMMARY 2026
◉ product life cycle theory.
Answer: as products mature both in location of sales and optimal
production, location will change, affecting flow and direction of
trade
◉ national competitive advantage: porter's diamond.
Answer: Diamond, four attributes to explain why a country gains a
competitive advantage in an industry, strategic management
concept.four attributes:
1. firm strategy, structure, rivalry
2. factor endowments
3. related and supporting industries
4. demand conditions
◉ comparative advantage.
Answer: a country should specialize in production of goods that it
produces more efficiently and buy gods that it produces less
efficiently from other countries. results from trade = positive sum
game
,◉ heckscher-ohlin theory.
Answer: comparative advantage reflects differences in national
factor endowments:
1. land 2. labor 3. capital.
Theory has commonsense appeal: export goods that make intensive
use of factors that are locally abundant, import goods that make
intensive use of factors that are locally scarce
◉ forces in the macro-environment.
Answer: -demographic forces
-economic forces
-sociocultural forces
-technological forces
-ecological forces
-political forces
◉ political system.
Answer: the system of government in a nation. two dimensions: the
degree to which they emphasize collectivism as opposed to
individualism and the degree to which they are democratic or
totalitarian
,◉ collectivism.
Answer: System that stresses the primacy of collective goals over
individual goals.
-Society should be stratified into classes.
-Property should be owned in common.
-Needs of society > individual freedoms.
◉ individualism.
Answer: Suggests individuals should have freedom over economic
and political pursuits.
-Individual freedom and self-expression.
-Letting people pursue self-interests to achieve the best overall good
for society.
-Democratic systems and free markets.
◉ Democracy.
Answer: -Political system in which government is by the people,
exercised either directly or through elected representatives.
-Freedom of expression, opinion, and organization; free media;
regular elections; universal adult suffrage; limited terms for elected
officials; fair court system, etc.
◉ totalitarianism.
, Answer: -Form of government in which one person or political party
exercises absolute control over all spheres of human life.
-Widespread political repression; no free and fair elections; media
censorship; basic civil liberties are denied; challenges to regime are
prohibited.
◉ pseudo democracy.
Answer: -System which lies between pure democracy and complete
totalitarianism.
-Authoritarian elements capture much of the machinery of state and
use this to deny basic political and civil liberties.
◉ Economic Systems.
Answer: -Definition: a set of organized principles that regulate the
production and distribution of goods, services and productive
factors.
Three types of economic systems:
-market economy,
-command economy
-mixed economy
◉ market economy.
Answer: Supply and demand determine goods and services a
country produces and the quantity in which they are produced.
