The president of Auto Parts of America testified before Congress, urging them to limit the flow of imported automobile parts into the United States. He contended that these imports were priced lower than foreign producers were charging for them in their o
dumping
Which of the following statements describes laws and regulations in global markets?
No central system of law exists.
Casey is typical of many U.S. businesspeople. Casey feels the U.S. culture defines the model for the rest of the world, and that the "American way" of doing things is the best. Casey is guilty of:
ethnocentricity.
The two basic types of tariffs are:
revenue and protective.
Many business experts contend that __________ will likely be the growth market of the future.
asia
International trade is not limited to multinational corporations. Small businesses do about 30% of all exporting out of the U.S.
true
Kodak contracts with a firm in Taiwan to manufacture Kodak digital cameras. This is an example of a joint venture.
false
The World Trade Organization (WTO) was established to mediate trade disputes among nations.
true
The North American Free Trade Agreement (NAFTA) requires member nations to negotiate uniform trade agreements with nonmember nations.
false
Offshore outsourcing is another term used to describe the act of U.S. firms selling their domestically manufactured goods to foreign customers.
false
To improve America's business ethics:
company leaders should adopt and support a corporate code of ethics.
All else held equal, socially responsible firms:
are viewed more favorably by consumers.
Determining what is involved for a firm to be socially responsible:
varies even among those who are interested in corporate responsibility.
Which of the following is not a basic right proposed by former President John F. Kennedy?
Correct!
the right to discount
Mini-Case
Harry, Sirly, and Bo are in the midst of a heated discussion. As the chief operating officers of the U-Scream Ice Cream Corporation, they are reviewing the latest financial reports. Intense competition has resulted in deceased profits. Each of t
compliance-based
Punishing business leaders who have broken the law may help restore trust in the free-market system and leaders in general.
Correct!
true
Overly ambitious business goals and employee incentives can lead to unethical behavior.
true
Do what I say, not what I do" can be an effective code of conduct to instill corporate values.
false
Businesses have a social responsibility to create jobs.
Correct!
true
Due to the fact that American ethical standards are very clear-cut, international suppliers do not have difficulty adhering to them.
false