Exam Review Bus 200
Cases FOR CSR
Balances power w/ responsibility
Enhances reputation and, in long run, may enhance profitability
Cases AGAINST CSR
Decreased economic efficiency, both micro and macro
Decreased individual responsibility
CH3. P. 77-113
1. In what ways is the circular flow diagram useful to show overall economic activity in the national
It is a simplified model to show the combination of macro and microeconomics in an economy. It
shows the effects of businesses, c
1. How relevant is the theory of comparative advantage to modern trade patterns?
Not relevant. It does not allow for dynamic change, most countrys dont specialize in the way
that this theory was envisioned, and trading patterns now are more influenced by
Professor Bernard Ascher
Reading Quiz Chapter 3: Review Questions
1- In what ways is the circular flow diagram useful to show overall economic activity in the
Businesses provide employment and wages to
David Ricardo (1817) developed the theory of:
Porters diamond theory focuses on all but which one of the following?
Those in favor of free trade argue that:
All countries benefit from the lowering of tar
Chap 2 review
Why is globalization often perceived as a threat in developed countries?
Because low-skilled jobs in advanced economies are at risk.
Which of the following has been the most influenced by globalization?
Organisational structures can be divided into the following three broad categories:
Structures based on functions, divisions and matrix
The SWOT analysis aids the company in assessing:
Internal strengths and weaknesses as well as external threat
Gross national income (GNI) is defined as:
The total income from all the final products and services produced by the national economy,
including income of national residents from their overseas investments
Purchasing power parity (PPP) is used in conjunct
Which of the following has the most direct impact on business operations?
National legal systems
Public law concerns:
Relations between the citizen and the state
The 'burden of proof' is:
Higher for criminal law than civil actions
Legal risk is:
Which of these countries has seen the biggest recent surge in IPOs?
Who regulates stock markets?
Bonds are used for:
Debt financing by companies and governments
Why are derivatives risky?
Their values fluctuate in accor
Emerging market refers to:
A fast-growing developing country
In the following list of ways by which governments exert control over businesses, which one is out of
Privatization of a nationalized company
A business, whether national or international
National culture is based on:
The sense of belonging of a people
A low-context culture is:
A culture in which communication is clear and direct
Which of the following religions is polytheistic?
Applying Hofstedes cultural dimensions, which
The sphere in which citizens pursue their own goals in voluntary associations is known as:
Which of the following best describes the nation-state?
Territory in which there is a recognized authority for law-making and law enforcem
Econ 103 September 8, 2015
Economics founded 1776 Adam Smith
Wealth of Nations. written by Adam Smith
o Water/Diamond paradox
o Ppl make decisions at the margin, ppl are choosing to have another unit of water
or a diamond or not
Modern products are
As a portfolio manager with almost $5 million invested in each of the five stocks
including ABX US Equity, XOM US Equity, CAT US Equity, ADM US Equity, and 6301 Equity,
one is res