INTERNATIONAL BUSINESS subject

State the differences between or among the concepts/Terms (if possible give an example).

ANY 5 (FIVE) of 10 (TEN).

Key Terms

a. Spoken Language versus Unspoken Language

b. Customs Union versus Common market versus Economic union

c. Fixed exchange rate versus Floating exchange rate.

d. Folkways versus Mores

e. Global Standardization Strategy Versus Localization Strategy Versus Transnational Strategy versus International Strategy

f. Commanded Economy versus Market Economy versus Mixed Economy.

g. Greenfield Venture and Acquisition

h. Licensing versus Franchising

i. Spot Exchange versus Forward Exchange Rate versus Currency Swap

j. Values Versus Norms