Foreign Business Section 2 Quiz

Chapter 2—Understanding Politics, Laws, & Economics

TRUE/FALSE

1 ) Formal and informal procedures are popularly known as " the rules of the game. "

ANS: TPTS: 1DIF: ModerateREF: p. twenty

OBJ: installment payments on your 1NAT: AACSB: Tier one particular Communication | Tier two Legal Obligations

2 . Two " pillars" —the regulatory and the ordre pillar—support simple institutions.

ANS: FPTS: 1DIF: EasyREF: l. 21

OBJ: 2 . 1NAT: AACSB: Tier 1 Reflecting Thinking | Tier two Legal Responsibilities

3. Simple institutions include laws, regulations, and guidelines.

ANS: FPTS: 1DIF: EasyREF: p. twenty-one

OBJ: installment payments on your 1NAT: AACSB: Tier you Communication | Tier a couple of Legal Responsibilities

4. A crucial source of transaction cost is opportunism, defined as seeking self-interest with guile.

ANS: TPTS: 1DIF: ModerateREF: s. 22

OBJ: 2 . 2NAT: AACSB: Tier 1 Analytic | Tier 2 Technique

5. Institutional transactions in countries including China, Biskupiec, poland, Russia, Brazil, India and South Africa make both huge challenges and tremendous possibilities for home and intercontinental firms.

ANS: TPTS: 1DIF: ModerateREF: s. 22

OBJ: 2 . 2NAT: AACSB: Tier 1 Range | Tier 2 Environmental Influences

6th. In the THAT industry in China and India, managers do not have to exceed in the game of market responsiveness and advancement because the rules of the game are described by the global heavyweights.

ANS: FPTS: 1DIF: DifficultREF: g. 22

OBJ: 2 . 3NAT: AACSB: Rate 1 Technology | Rate 2 I . t

7. Managers and organizations rationally follow their hobbies and produce choices inside the formal and informal limitations in a provided institutional construction.

ANS: TPTS: 1DIF: ModerateREF: p. 3

OBJ: 2 . 3NAT: AACSB: Tier you Reflective Considering | Rate 2 Legal Responsibilities

eight. Democracy was pioneered by the Athenians in ancient Portugal.

ANS: TPTS: 1DIF: EasyREF: p. twenty-four

OBJ: 2 . 4NAT: AACSB: Tier you Communication | Tier 2 Environmental Influences

9. South Africa, South Korea, Taiwan, and a lot Latin American countries practice communist totalitarianism.

ANS: FPTS: 1DIF: ModerateREF: p. twenty four

OBJ: 2 . 4NAT: AACSB: Tier 1 Diversity | Tier two Environmental Impact on

10. Totalitarian countries typically experience battles, riots, protests, chaos, and breakdowns, resulting in higher personal risk.

ANS: TPTS: 1DIF: EasyREF: l. 24

OBJ: 2 . 4NAT: AACSB: Tier 1 Selection | Rate 2 Group Dynamics

eleven. Firms within democracies rarely confront politics risk.

ANS: FPTS: 1DIF: ModerateREF: p. 25

OBJ: 2 . 3NAT: AACSB: Tier 1 Connection | Tier 2 Legal Responsibilities

doze. Common rules is " the oldest, the most powerfulk and the most widely distributed around the globe. "

ANS: FPTS: 1DIF: ModerateREF: s. 25

OBJ: 2 . 5NAT: AACSB: Rate 1 Inductive | Tier 2 Legal Responsibilities

13. Civil law is derived from Both roman law and was increased by Napoleon's France.

ANS: TPTS: 1DIF: ModerateREF: p. 25

OBJ: 2 . 5NAT: AACSB: Rate 1 Inductive | Tier 2 Legal Responsibilities

13. Iran and Saudi Arabia are routine law countries.

ANS: FPTS: 1DIF: ModerateREF: p. twenty six

OBJ: 2 . 5NAT: AACSB: Tier 1 Diversity | Tier 2 Environmental Impact on

15. The only most important way to obtain funds achievable start-ups in the United States is the mortgage loan of entrepreneurs' houses.

ANS: TPTS: 1DIF: DifficultREF: l. 26

OBJ: 2 . 6NAT: AACSB: Tier 1 Reflective Thinking | Tier two Motivation Principles

16. Perceptive property rights (IPRs) contain rights linked to patents, logos, and copyrights.

ANS: TPTS: 1DIF: EasyREF: p. twenty seven

OBJ: 2 . 6NAT: AACSB: Tier one particular Communication | Tier 2 Operations Management

17. The " hidden hand" of market causes noted by simply Adam Smith in the Useful Nations in 1776 characterizes a natural market economic system.

ANS: TPTS: 1DIF: ModerateREF: p. 28

OBJ: installment payments on your 7NAT: AACSB: Tier 1 Analytic | Tier two Creation of Value

18. The economic system of most countries is known as a market economic climate.

ANS: N...

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