Summary
Summary International Business Environment
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summary of the entire module International Business Environment
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Some examples from this set of practice questions
1.
a quota rent
Answer: extra profit that producers make when supply is artifically limited by an import quota
2.
ad valorem tariffs
Answer: levied as a proportion of the value of the imported good (less tax on smaller bottle of wine than on bigger one)
3.
administrative policies
Answer: bureaucratic rules designed to make it difficult for imports to enter a country, also known as red tape
4.
antagonistic relationship
Answer: raises the cost of production in countries with significant class differences
5.
antidumping policies/countervailing duties
Answer: punish foreign firms that engage in dumping and protect domestic producers from unfair foreign competition
6.
basic rights
Answer: freedom of association, freedom of speech, freedom of assembly, freedom of movement
7.
bilateral agreement
Answer: two parties involved
8.
born global
Answer: multinationals developing products for a global market rather than a national or local (e.g. Apple)
9.
BRIC countries
Answer: fast developing nations (Brazil, Russia, India, China)
10.
business ethics
Answer: principles of right or wrong governing as the conduct of business people
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