Questions FS on Exam 2 Flashcards
When do countries use price control?
During inflation
What kind of standard is the ISO developing for the WTO?
Standardize technical standards
Why are ISO standards needed?
Tech, standards can be used as protective/ trade barriers
So, need to distinguish them
What is geographical indices + importance to marketers?
Indication of the geographical origin of a product
Important bc you can TRADEMARK (brand) it
ex:parmesan cheese from Parma, Italy
What is measurement error?
People lie
What is non response error?
People selected to be interviewed refuse to cooperate or cannot be reached
What is frame
Database that includes info about a population you want to measure
What is frame error
Database you use does NOT include the info about the population you want to measure. Sample drawn from the population DIFFERS from target population
ex: phone book when not everyone has a phone
What is random error?
Selected sample is imperfect representation of the overall population
Different results will be obtained when sampling 2 different random samples 2 different ways
What is an important factor that contributes to the growth of Newly industrialized Countries?
Privatization of state owned enterprises that placed a drain on national budgets
What is economic dualism
2 economies inside of a country
What is a main reason of concern of emerging markets in the Americas
Most countries dependent on prices of commodities (oil, copper, wheat)
What are 4 freedoms of a common market
Free movement of
goods
people
services
and capital among member nations
Successful Economic Unions have
Economic compatibility
Political compatible
Geographical Proximity
Cultural Compatibility
What is economic compatibility
compliment each other, so the whole is greater than the sum of parts
complementarity: weakness of one is the strength of the oher
