AGB 302 EXAM ASU (A+ Guaranteed)

ethics correct answers the principles of right and wrong that guide an individual in making decisions ethical strategy correct answers a course of action that does not violate a company's business ethics Friedman Doctrine correct answers the only social responsibility of business is to increase profits, so long as the company stays within the rules of law Culturual Relativism correct answers belief that cultures should be judged by their own standards Utilitarian Approach correct answers guided by what will result in the greatest good for the greatest number of people john rawls correct answers veil of ignorance a class system is more or less rigid than a caste correct answers less Max Weber correct answers The Protestant Ethic and the Spirit of Capitalism buddhism does not support correct answers the caste system tragedy of the commons correct answers people acting individually and in their own interest use up commonly available but limited resources facilitating payments correct answers Payments made to foreign officials to ensure that there is no obstruction to the transaction. Noblese Oblige correct answers idea that they upper classes have the responsibility/right to take care of those under them free trade correct answers international trade left to its natural course without tariffs, quotas, or other restrictions. david ricardo correct answers theory of comparative advantage heckscher ohlin correct answers export goods that make intensive use of factors that are locally abundant raymond vernon correct answers Product life cycle theory new trade theory correct answers countries specialize because in certain industries the world market can only support a limited number of firms (entering the market early is better)