Ans 4 - CHAPTER 4 ECONOMIC SYSTEMS AND DEVELOPMENT...

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C HAPTER 4 E CONOMIC S YSTEMS AND D EVELOPMENT 1. China is developing its economy based on natural resources and cheap labor while India is relying on the brainpower of its people. ( True; Easy; p. 121; LO1) 2. Entrepreneurs are businesspeople who accept the risks and opportunities involved in creating and operating new business ventures. ( True; Easy; p. 122; LO1) 3. One of the most important factors in forming a successful joint venture in China is guanxi. ( True; Moderate; p. 125; LO1) {AACSB: Communication} 4. The biggest contributor to China’s unemployment rate is its reunification with Hong Kong. ( False; Moderate; p. 126; LO1) 5. China and Taiwan have both gained entry into the World Trade Organization in recent years. ( True; Difficult; p. 126; LO1) 6. The term “juche” in Korean refers to ________. a. strong personal relationships b. self-reliance c. allowing market forces to operate without interference d. intervention in markets on an as-needed basis
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This note was uploaded on 06/21/2011 for the course ACCOUNTING 0116001 taught by Professor Bloom during the Spring '07 term at Santa Fe College.

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Ans 4 - CHAPTER 4 ECONOMIC SYSTEMS AND DEVELOPMENT...

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