Practice quiz questions Unit 1 Flashcards
The difference between multinational and global is
Global completely customize the products and marketing to meet the needs of the market
Which one of these would be considered ethnocentric?
Offering your guests from Shanghai chopsticks when they come to eat at your house
What is capitalism?
Private ownership and entrepreneurship is emphasized
What would you be doing if you worked in Supply Chain management?
Ensuring the smooth transition of the flow of goods from manufacturing to the final sale
One advantage of trade is that took billions of people out of ____________
Poverty
“Survival of the fittest” would be considered a _____ view
Right
Paying less taxes and focusing on individual success might be considered an act of
the political RIGHT
Government regulations hinder free market capitalism and job growth. Who would think this?
Many Conservatives (but not all)
Why did Starbucks and Home Depot fail when they went internationally?
They treated their new market the same as their old market
A Carbon Tax would be considered an act of:
the political LEFT
Ensuring that everyone in your country has access to free health care might be considered an act of
the political LEFT
Economics (and this class) focusses on the study of _______?
Scarcity
Which is Canada?
We are a MIXED economy because we have a combo of both
Offering your citizens a wage good enough to cover basic expenses is called a:
living wage
What’s it called when Canada relies on the United States and the United States depends on us?
Interdependence
The GATT was replaced with the
WTO - World Trade Organization
How have countries used subsidies?
to provide financial assistance to specific industries or sectors, often lowering prices for consumers by artificially supporting production costs
