A multilateral institution that establishes rules for the world trading system.
What is the WTO?
100
It includes street vendors and small jobs, but no taxes are collected.
What is the informal economy
100
A Chinese word that means "relationships", although in business settings it can be better understood as "connections."
What is Guanxi?
100
It prohibits U.S. companies from giving bribes to public officials in foreign countries to win business contracts.
What is the Foreign Corrupt Practices Act. (FCPA)
100
According to this ethical system, an action is judged desirable if it leads to the best possible balance of good consequences over bad consequences.
What is Utilitarianism?
200
It occurs when a firm invests resources in business activities outside of its home country.
What is Foreign Direct Investment?
200
A person who is committed to socialism, but is opposed to violent revolution and dictatorship.
What is a social democrat?
200
They consist of social rules that prescribe appropriate behavior.
What are norms?
200
The idea that business people should consider the social consequences of economic actions when making business decisions.
What is Social Responsibility?
200
A development economist who believed that the key problem of poor people in developing countries is the chronic inability of property owners to establish legal title to property they own.
Who is Hernando de Soto?
300
An international institution set up to promote economic development in the world's poorest nations.
What is the World Bank?
300
In these countries, the average government debt burden is as high as 85 of the countries GDP.
What are highly indebted poor countries. (HIPCs)
300
Islamic bank lends money under this contract, but accepts a share of profits rather than interest.
What is a mudarabah?
300
In this situation, there are no easy ethical answers. None of the available options are fully acceptable.
What is an ethical dilemma?
300
It establishes a uniform set of rules for international commercial contracts.
What is the United Nations Convention on Contracts for the International Sale of Goods? (CIGS) p.55
400
Trade Talks that began in 2001 in the nation of Qatar
What is the Doha Round?
400
Certain sectors of the economy are left to private ownership and free market mechanisms while other sectors have significant state ownership.
What is a mixed economy?
400
In this religion, loyalty to one's superiors is regarded as a sacred duty and obligation.
What is Confucianism?
400
This term describes the overall attitude and personality of the organization. For example, at Enron, the values and norms of the organization were based on greed, deception, and cover up.
What is organizational culture?
400
Patents, Trademarks, computer software, musical scores, and chemical formulas are all come under this important trade issue.
What is Intellectual Property?
500
It increases international trade by lowering the cost of moving goods from one mode of transportation to another.
What is containerization?
500
A form of government in which one person or political party exercises absolute control.
What is totalitarianism?
500
A belief that one's own culture is superior to others.
What is ethnocentrism.
500
According to this belief, all ethical views vary from culture to culture. Whatever is accepted in that particular culture is OK.
What is cultural relativism?
500
This legal system was developed in England. It is based on tradition, precedent, and custom.