what will happen to equilibrium quantity and price if both demand and supply
decreases?
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quantity will decrease but price can either increase or decrease.
command economy
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all factors of production should be gov't owned or state-owned, and all
supply, demand, and pricing are planned by the gov't.
,MNE: Multinational Enterprise
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Is a firm that engages in FDI when doing business abroad. FDI sets apart
MNEs and non-MNEs.
What are open market operations?
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The purchase or sale of U.S. treasury or U.S. gov't bonds in the open
market.
what statement describes a competitive firm's demand curve?
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it is more elastic than a monopoly's demand curve.
how is global business affected by totalitarianism (dictatorship)?
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, Totalitarianism: a political system in which one person or party exercises
absolute political control over the population.
how is a consumer's optimal point of consumption determined precisely? what is the
condition that must be met?
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The point at which the indifference curve and the budget constraint touch
(the optimum). marginal rate of susbstitution equals the relative price. The
slope of the indiffernce curve is the MRS between pizza and Pepsi and the
budget constraint is the relative price of pizza and Pepsi.
How would you describe strategic trade?
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Strategic intervention by governments in certain industries can enhance
their odds for international success. These industries are usually highly
capital-intensive, high entry-barrier industries that is difficult for domestic
firms to enter without government assistance.
which of the market structures are characterized as being "price takers"?
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Competitive market aka (perfectly competitive market)
, why are transfer payments such as social security not counted in gov't expenditures?
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transfer payments affect household income, but they do not change the
production in an economy and therefore, are not counted as part of gov't
purchases.
Pendulum view of globalization
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A pendulum that swings from one extreme to another from time to time.
Globalization is neither recent or one-directional. Risk management and
scenario planning is needed.
in addition to encouraging efficiency, why might a gov't intervene in a market?
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to promote equality
Discuss and compare the three pillars (regulatory, normative, and cognitive)
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decreases?
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quantity will decrease but price can either increase or decrease.
command economy
Give this one a try later!
all factors of production should be gov't owned or state-owned, and all
supply, demand, and pricing are planned by the gov't.
,MNE: Multinational Enterprise
Give this one a try later!
Is a firm that engages in FDI when doing business abroad. FDI sets apart
MNEs and non-MNEs.
What are open market operations?
Give this one a try later!
The purchase or sale of U.S. treasury or U.S. gov't bonds in the open
market.
what statement describes a competitive firm's demand curve?
Give this one a try later!
it is more elastic than a monopoly's demand curve.
how is global business affected by totalitarianism (dictatorship)?
Give this one a try later!
, Totalitarianism: a political system in which one person or party exercises
absolute political control over the population.
how is a consumer's optimal point of consumption determined precisely? what is the
condition that must be met?
Give this one a try later!
The point at which the indifference curve and the budget constraint touch
(the optimum). marginal rate of susbstitution equals the relative price. The
slope of the indiffernce curve is the MRS between pizza and Pepsi and the
budget constraint is the relative price of pizza and Pepsi.
How would you describe strategic trade?
Give this one a try later!
Strategic intervention by governments in certain industries can enhance
their odds for international success. These industries are usually highly
capital-intensive, high entry-barrier industries that is difficult for domestic
firms to enter without government assistance.
which of the market structures are characterized as being "price takers"?
Give this one a try later!
Competitive market aka (perfectly competitive market)
, why are transfer payments such as social security not counted in gov't expenditures?
Give this one a try later!
transfer payments affect household income, but they do not change the
production in an economy and therefore, are not counted as part of gov't
purchases.
Pendulum view of globalization
Give this one a try later!
A pendulum that swings from one extreme to another from time to time.
Globalization is neither recent or one-directional. Risk management and
scenario planning is needed.
in addition to encouraging efficiency, why might a gov't intervene in a market?
Give this one a try later!
to promote equality
Discuss and compare the three pillars (regulatory, normative, and cognitive)
Give this one a try later!
