Privatization Reasons and Industries
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Questions and Answers

What is a foundation for legal systems?

  • Regulatory law
  • Common law
  • Principles of comity (correct)
  • Administrative law
  • Which country is not a member of the EU?

  • Monaco (correct)
  • Norway
  • Portugal
  • Austria
  • What differentiates a common law system from a civil law system?

  • Religious vs secular principles
  • Judges making laws vs legislators making laws
  • Precedent-based vs statutory-based (correct)
  • Flexible vs rigid interpretation of laws
  • For successful international business, what is crucial for companies to do?

    <p>Understanding local market characteristics</p> Signup and view all the answers

    Why does privatization typically occur?

    <p>To improve efficiency and reduce government involvement</p> Signup and view all the answers

    What problems in international markets can be created by counterfeiting and intellectual property theft?

    <p>Loss of revenue for legitimate businesses</p> Signup and view all the answers

    In which of the following countries are interest-bearing transactions not allowed?

    <p>Iran</p> Signup and view all the answers

    When an organization does as little as possible to address social or environmental issues, it has adopted the ________ to social responsibility.

    <p>Obstructionist stance</p> Signup and view all the answers

    Braxton Clothing Company most likely forbids its buyers from accepting gifts from potential suppliers because the firm wants to avoid a ________.

    <p>Conflict of interest</p> Signup and view all the answers

    How has the Internet helped small businesses compete in global markets?

    <p>By reducing entry costs</p> Signup and view all the answers

    What has most likely triggered the increase of small businesses involved in international business?

    <p>E-commerce</p> Signup and view all the answers

    According to the CAGE Model, what does geographic distance refer to?

    <p>Geographic distance</p> Signup and view all the answers

    What is the term for buying products made in other countries for use or resale in one's own country?

    <p>Importing</p> Signup and view all the answers

    Why is gift exchange more common in high-context, power-respecting cultures than in low-context, power-tolerant cultures?

    <p>It helps build stronger relationships and trust.</p> Signup and view all the answers

    What is a code of ethics in business?

    <p>A guideline for ethical behavior within an organization</p> Signup and view all the answers

    What term is used when an employee reports unethical behavior within the organization?

    <p>Whistle-blowing</p> Signup and view all the answers

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