1. is a practice that brings together people from countries with different cultures, values, laws, and ethical culture. 2. The cultures, values, ideas, and beliefs across cultures vary; many have developed frameworks for classifying cultural behavior patterns that can help businesspeople who work in different countries. One of the most well-known frameworks was proposed by a Dutch management professor. 3. Define individualism/collectivism. 4. What is meant by power distance dimension? 5. countries, such as Saudi Arabia, score higher on the power distance dimension. 6. Define uncertainty avoidance. 7. In business, the idea that "we" differ from "them" is called the 8. According to your text, what is meant by, "When in Rome, do as the Romans do?" 9. What is risk compartmentalization? 10. Adam Smith, a professor of logic and moral philosophy, developed a concept called or the "invisible hand," which is critical to capitalism, because it assumes that markets, through its own inherent mechanisms, keeps commerce in equilibrium. Basically this means that someone, somewhere is making goods that we will need. We will buy the goods, so therefore, the producer must make more. Supply is driven by demand. In other words, as we buy the product, the supplier will run out and have to make more so that we may buy more. There is no need for government intervention or any other type of intervention. (This is a simple explanation that I hope helps you understand this concept). 11. Define socialism. 12. allows private ownership of property and also features a large government equipped to offer such services as education and health care to its citizens.

1. is a practice that brings together people from countries with different cultures, values, laws, and ethical culture. 2. The cultures, values, ideas, and beliefs across cultures vary; many have developed frameworks for classifying cultural behavior patterns that can help businesspeople who work in different countries. One of the most well-known frameworks was proposed by a Dutch management professor. 3. Define individualism/collectivism. 4. What is meant by power distance dimension? 5. countries, such as Saudi Arabia, score higher on the power distance dimension. 6. Define uncertainty avoidance. 7. In business, the idea that "we" differ from "them" is called the 8. According to your text, what is meant by, "When in Rome, do as the Romans do?" 9. What is risk compartmentalization? 10. Adam Smith, a professor of logic and moral philosophy, developed a concept called , or the "imvisible hand," which is critical to capitalism, because it assumes that markets, through its own inherent mechanisms, keeps commerce in equilibrium. Basically this means that someone, somewhere is making goods that we will need. We will buy the goods, so therefore, the producer must make more. Supply is driven by demand. In other words, as we buy the product, the supplier will run out and have to make more so that we may buy more. There is no need for government intervention or any other type of intervention. (This is a simple explanation that I hope helps you understand this concept). 11. Define socialism. 12. allows private ownership of property and also features a large government equipped to offer such services as education and health care to its citizens: 12. allows private ownership of property and also features a large Bovernment equipped to offer such services as education and health care to its citizens. Denmark, Sweden, and Finland are examples of this. 13. Define bimodal wealth distribution. 14. Define rational economics. 15. assumes that humans act irfationally because of genetics, emotions, learned behaviot, and heuristics, or rules of thumb. 16. Your textbook identifies the strengths and weaknesses of multinational corporations (MNCs). One of the negatives is that some MNCs exploit the labor markets of host countries. Some MNCs have been accused of paying inadequate wages, while others pay wages that are too high. Of course, emplovees want to work for the higher wage, so this often causes skilled and productive workers to go to work for the MNCs which can leave local businesses shorthanded for reliable workers. Measures have been taken to curtail such practices - host governments products and reduce their profits. that increase the prices MNCs charge for their 17. What is the AACSB? 18. Define human rights. 19. A refers to the minimum wage workers require to meet basic needs. 20. What is the purpose of the US Foreign Corrupt Practices Act