12 Questions
What is the term for the rate reflected during a period of above normal general price increases?
Inflation rate
What is the total final output of goods and services produced by the country’s economy, within the country’s territory?
Gross Domestic Product (GDP)
What is cultural intelligence?
The ability to understand and adapt to different cultures
What type of culture emphasizes punctuality and sticking to set rules?
Monochronic cultures
Who noted that the way people approach and deal with time varies across cultures?
Edward T. Hall
What is the term for the rate at which central banks will exchange the country’s currency for another?
Currency exchange rate
What is a characteristic of polychronic cultures in terms of time?
Accomplishing many different things at once
What does a high power distance in a culture indicate?
A respect for authority figures
What is a characteristic of individualistic cultures, such as those in the US and Australia?
A preference for working alone
What is a characteristic of cultures with a high level of uncertainty avoidance, such as the Philippines?
A preference for stability and predictability
What is a characteristic of cultures with a masculine orientation, such as Japan and Mexico?
A preference for assertiveness and material success
What is a characteristic of cultures with a long-term orientation, such as the Philippines and Japan?
A concern for the future and long-term consequences
Test your understanding of key concepts in business environment, including inflation rate, Gross National Product (GNP), and Gross Domestic Product (GDP). Learn how these indicators affect the economy and business operations.
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