LESSON 2 Flashcards
rate reflected during a period of above normal general price increases
Inflation rate
total domestic and foreign output claimed by the residents of a country
Gross national product (GNP)
the rate at which central banks will exchange the country’s currency for another
Currency exchange product
total final output of goods and services produced by the country’s economy, within the country’s territory
Gross domestic product (GDP)
refer to cultures wherein people tend to do one thing at a time; also, these cultures emphasize punctuality and sticking to set rules.
Monochronic cultures
are more flexible as regards time, accomplishing many different things at once is also common for these cultures. It
Polychronic cultures
noted that the way people approach and deal with time varies across cultures.
Edward T. Hall
showed how selected countries ranked on the five cultural dimensions he studied:
Geert Hofstede
society accepts or rejects the unequal distribution of power
Power Distance
degree to which society is uncomfortable with risk, change, and situational uncertainty
Uncertainty Avoidance
seguristas that are afraid of taking risks within business endeavors in the market
Filipinos
degree to which a society emphasizes individual accomplishments versus collective accomplishments
Individualism-Collectivism
degree to which a society values assertiveness and feelings of material success versus concern for relationships
Masculinity-Femininity
degree to which a society emphasizes short- term thinking versus greater concern for the future or long-term thinking
Time Orientation
It is counter productive since it encourages the postponement of performing tasks that can be done immediately to another day.
mañana habit
Power Distance
94
Uncertainty Avoidance
44
Individualism-Collectivism
32
Masculinity
64
Time Orientation
19
