Questions FS on Exam 2 Flashcards

1
Q

When do countries use price control?

A

During inflation

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2
Q

What kind of standard is the ISO developing for the WTO?

A

Standardize technical standards

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3
Q

Why are ISO standards needed?

A

Tech, standards can be used as protective/ trade barriers
So, need to distinguish them

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4
Q

What is geographical indices + importance to marketers?

A

Indication of the geographical origin of a product
Important bc you can TRADEMARK (brand) it
ex:parmesan cheese from Parma, Italy

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5
Q

What is measurement error?

A

People lie

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6
Q

What is non response error?

A

People selected to be interviewed refuse to cooperate or cannot be reached

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7
Q

What is frame

A

Database that includes info about a population you want to measure

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8
Q

What is frame error

A

Database you use does NOT include the info about the population you want to measure. Sample drawn from the population DIFFERS from target population
ex: phone book when not everyone has a phone

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9
Q

What is random error?

A

Selected sample is imperfect representation of the overall population
Different results will be obtained when sampling 2 different random samples 2 different ways

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10
Q

What is an important factor that contributes to the growth of Newly industrialized Countries?

A

Privatization of state owned enterprises that placed a drain on national budgets

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11
Q

What is economic dualism

A

2 economies inside of a country

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12
Q

What is a main reason of concern of emerging markets in the Americas

A

Most countries dependent on prices of commodities (oil, copper, wheat)

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13
Q

What are 4 freedoms of a common market

A

Free movement of
goods
people
services
and capital among member nations

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14
Q

Successful Economic Unions have

A

Economic compatibility
Political compatible
Geographical Proximity
Cultural Compatibility

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15
Q

What is economic compatibility

A

compliment each other, so the whole is greater than the sum of parts
complementarity: weakness of one is the strength of the oher

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16
Q

What is political compatibility

A

same political leaning join

17
Q

What is geographical proximity

A

not necessary, but helps get started

18
Q

What is cultural compatibility

A

religion

19
Q

Why is the EU successful?

A

took a long time + flexible

20
Q

How many countries in the EU?

A

27

21
Q

How many countries in the Euro zone

A

20