Exam 4: Economics and Emerging Markets

Discuss the challenges China faces as it continues its experiment on "socialism with Chinese characteristics."

Differentiate between GDP and GNP.Briefly discuss the drawbacks of using GDP and GNP as indicators of economic development.

Which of the following is an important factor in forming successful business ventures in China?

Scenario: Cleanshot USA in Russia When Cleanshot USA,a photography products company,decided to enter the international arena,it chose Russia as its main market.Although Russia has been in transition for years,Cleanshot managers believe their company has tremendous opportunities there. -Given the lack of available hard currency,Russian businesses often use goods and services as payment for other products they buy from abroad.This practice is referred to as ________.

A ________ economy is a system in which the government owns a nation's land,factories,and other economic resources,and schedules nearly all economic activities.

A market economy is rooted in the belief that ________.

A centrally planned economy gives individuals access to alternative purchase options.

In ________ cultures,economic systems tend to provide incentives and rewards for a person's private business initiatives.

Why are many mixed economies converting to market-based systems? How does the role of government change when a mixed economy transitions to a market economy?

A company is conducting a research on new markets by comparing countries in terms of their human development index (HDI)scores.The company wishes to expand into a market where individuals experience a very high level of total well-being.Which of the following countries would the company most likely choose?

The government maintains control over the banking industry in a country.Which of the following is most likely true if the country has a mixed economy?

The human development index (HDI)demonstrates that high national income alone guarantees human progress.

Assuming insects destroyed most of the coffee crops in key coffee-producing countries worldwide,which of the following would most likely occur within the coffee market?

Scenario: Stephanie Wong Stephanie Wong,a Chinese-American,owns a consultancy that advises clients on strategies for business expansions into China.Wong is to lead a symposium for small and mid-sized exporters who are planning on expanding their businesses in China.Therefore,she is preparing answers in advance for questions that symposium participants would most likely ask. -The first question that Stephanie expects participants to ask is: "Which is more important for the Chinese,contacts or contracts?" Which of the following is the most effective response Stephanie could give for this question?

Which of the following terms refers to the broadest measure of economic development of a country?

Barter is an alternative for buyers who lack money needed to pay for imports.

Central planning is rooted in the ideology that the welfare of a group is more important than individual well-being.

The GDP per capita of a country is higher than that of Thailand.If the GDP per capita of the country is adjusted for PPP,the country's revised GDP is lower than that of Thailand.Which of the following is most likely true about the country?

The ________ of a country is its gross national product divided by its population.

Guanxi,in the Chinese business context,means ________.