UCF GEB 3375 International Business Exam 1 Study Guide Questions and Answers Solved 100%

____________ is a collective programming of the mind that distinguishes the members of one group or category of people from another - Answer-Culture ____________ viewed precious metals like gold and silver as the only source of wealth, and their accumulation as essential to a nation's welfare - Answer-Mercantilism ______________ is a process where a company exports a product at a price lower than the price it normally charges in its own home market - Answer-Dumping ______________ US jobs supported by good exports from Florida - Answer-232,253 ___________________ is people and companies that have a more difficult time to deal with risk and uncertainty. They create institutions and laws to minimize risk and ensure security. Decisions are made slowly. - Answer-High uncertainty avoidance ______________________ exists when a nation can produce more of a good or service than another country for the same or lower cost of inputs - Answer-Absolute advantage _______________________ is when people and companies feel comfortable working with limited information or under the premise of uncertainty - Answer-Low uncertainty avoidance A closed-loop design that recycles and reuses products - Answer-Cradle-to-cradle design A measure of the amount of water used in a product's manufacture and use - Answer-Water footprint A measure of the volume of greenhouse gas emissions caused by a product's manufacture and use - Answer-Carbon footprintA nation's ability to design, produce, distribute, or service products within an international trading context while earning increasing returns on its resources is known as ________ - Answer-National competitiveness An _______________ is a protectionist tariff that a domestic government imposes on foreign imports that it believes are priced below fair market value - Answer-Anti-dumping duty An approach to accounting that measures the firm's social and environmental performance in addition to its economic performance - Answer-Triple-bottom-line accounting