Test Flashcards
spatial perception
Individual comfort levels with personal space and physical contact, which are often dictated in part by cultural standards
Market economy
an economic system determined by free competition in which businesses consumers and government act independently of one another the market forces and self interest determine what goods are created, and sold
Counterculture
A culture that has values that oppose mainstream values and attitudes
centrally planned economy
An economic system, in which the government controls all elements of the economy, including prices, wages, and production
Polychronic
Time is seen as involving many things happening simultaneously with the participation of many people time is flexible and schedules are not primarily importance
Monochronic
Time is seen as linear and sequential and focus is placed on one thing at a time in a logical progression
Opportunity cost
The value of what is forgotten, or the cost of giving something up to get something else
absolute advantage
The ability of one country to use its resources to make a product or service, more efficiently than other countries
mixed economy
an economic system that combines government intervention and private enterprise
The total goods and services produced by one country in one year is referred to as
Gross domestic product
underdeveloped countries are associated with which of the following characteristics
Economy, predominantly, based on agriculture or resources
developed countries are also known as
Industrialized nations
The degree of cultural awareness that a country must have, when establishing foreign business relationships depend on
how many countries are involved with in the relationship how similar are different? The culture is of the foreign countries is how the business controls its foreign operations
which of the following is a characteristic of a mixed economy?
private property owned by individuals, corporations, and government
Each economic system addresses the following three major components, but in different ways
private property, profit, and competition
Well, there are no countries in the world with a true market economy which country comes the closest
The United States
Which of the following is an example of a lagging indicator?
Unemployment rate
The major difference between autocracy and democracy is
An autocracy is ruled by one person, or a group while a democracy is ruled by the people through elected leaders
any attempt to increase a companies’s effectiveness, or efficiency is referred to as
Rationalization
Immigrant communities within Canada, that maintain parts of their own culture, including food, language and religion are said to have
form a subculture
Uncertainty, avoidance
How various cultures adapt to change
Individualism versus collectivism
The extent to which people are expected to make their own decisions
Power distance
How the difference in power between people is perceived
Orientation
The degree of focus with respect to goals
masculinity versus femininity
The degree to which culturally mandated, gender roles operate within the country
choose three of Hofstead’s cultural dimensions, listed above for each explain where you believe Canada ranks within the cultural dimension provide an example of Canadian culture to support your answer
- individualism versus collectivism, Canada ranks, high on individualism, Canadians prioritize, personal achievement. For example, the emphasis on personal choice in career paths and lifestyle. Decisions reflects this value.
- Uncertainty, avoidance, Canada ranks, low on uncertainty. Avoidance Canadians are genuinely open to change and tolerant to ambiguity. This is evident in the countries, diverse and adaptable culture, as well as its embrace of innovation and risk taking
- power distance, scores, low on power distance, equality and participatory decision-making, our valued. this is in how companies in Canada have bosses who are more like friends, and how Canada tries to make things fair for everyone
Canada prides itself at home and abroad as a country made up of a cultural mosaic rather than a cultural melting pot as adopted in the United States. Do you agree with this distinction support your opinion with cultural differences between Canada and the US
I agree, Canada‘s cultural mosaic celebrates diversity, encouraging the preservation of various cultural identities within its society. This is evident through policies promoting multiculturalism recognition of indigenous rights, and many more in contrast, the USA’s cultural melting pot has historically emphasized assimilation into a common American identity, potentially leading to the suppression of distinct, cultural backgrounds and languages.
in short, cultural mosaic refers to celebrating and preserving cultural diversity within society, or cultural melting pot suggests assimilation into a common cultural identity
What are lobbyist and why are lobbyist needed in certain cases provide examples of lobby groups in Canada
lobbyist are individuals or groups that advocate for specific interest in policy, making process they provide expertise information and advocacy to influence government decisions. Lobbyist are necessary to ensure diverse perspectives are considered, and to represent stakeholders who may not have direct access to policy makers in Canada examples of lobbyist groups include labour unions like labor, congress and healthcare, advocacy groups like Canadian medical Association.
what is autocracy provide an example to support your answer?
Autocracy is a form of government where power is concentrated in the hands of a single ruler, or a small group of individuals, typically without meaningful checks and balances or democratic processes, one example of autocracy is North Korea power is centralized in the hands of Kim family, dynasty particular king jun, who exercises near total control over the countries, political, economic, and social spheres
List the four key phrases of the business cycle and describe two key characteristics for each of the four key phrases
expansion – increased economic activity, and rising business confidence.
Peak – high employment rates, and rising inflation.
Trough – low economic activity, and declining business confidence.
Recession – negative GDP growth and rising unemployment 
what is a coincidence economic indicator?
coincidence economic indicators are statistical metrics that move in conjunction with the overall economy, reflecting its current state, examples, being unemployment levels, industrial production, retail sales, personal income, etc. 
describe an international trade scenario that coincides with a contract in Canadian economy
During a contracting Canadian economy, decreased demand from major trading partners, like the US could lead to reduce Canadian exports this result in challenges for export, independent industries, increased unemployment, and a shift from a surplus to a deficit
Culture
The knowledge, experience, beliefs, values, attitudes, religion, etc.
subculture
A cultural group with a larger or predominant culture distinguished from it by factor, such as class ethnic background religion lifestyle
cultural intelligence
The capability to adapt, relate and work effectively across various cultures
Commodity
Material or primary agricultural product that can be bought and sold such as copper or coffee
Rationalization
Any attempt to increase a companies effectiveness or efficient see, including downsizing, cutbacks, layoffs, and relocating, corporate functions and activities to countries that have cheaper labour and a few or no union problems
Cultural norm
Attitudes and behaviours that are considered typical or normal within a particular cultural group. These attitudes and behaviours can be expressed in personal social or business situations.
