Ba-310 Pennington Exam #1

Front 1

Accountability

Back 1

A system of responsibility in which an authority, such as the government, is answerable for its actions.

Front 2

Adaptive Institutions

Back 2

Government organizations that create strong incentives for private investment and operate under a system of checks and balances.

Front 3

Antitrust Laws

Back 3

National laws aimed at maintaining competition in all sectors of the economy and preventing monopolistic behavior of firms.

Front 4

Bandwidth

Back 4

The amount of data and other information that can be transferred in a second via the internet.

Front 5

Capital Markets

Back 5

A stock exchange where long-term financial instruments such as stocks and bonds can be bought and sold.

Front 6

Decoupling

Back 6

A fundamental global shift in which industrialized country-dependent developing economies begin to grow based on their own underlying economic strengths rather than the ups and downs of the world's richest countries.

Front 7

Digital Divide

Back 7

The perceived economic gap between countries or people with easy access to digital information technology (and its benefits) and those with very limited access, or none at all.

Front 8

Digital Era

Back 8

The period of transformation that adjusts lifestyles to make the Internet and wireless technologies a part of everyday life.

Front 9

Economic Reforms

Back 9

Economic policy changes that promote private sector development, competitive markets, market-pricing, freer trade, and deregulation.

Front 10

Emerging Market Economies

Back 10

Countries that are implementing more open trade and free-market policies.

Front 11

Globalization

Back 11

The socioeconomic reform process of eliminating trade, investment, cultural, information technology, and political barriers across countries, which in turn can lead to increased economic growth and geo-political integration and interdependence among nations of the world.

Front 12

Institutions

Back 12

The rules, enforcement mechanisms, and organizations that support market transactions.

Front 13

International Monetary System

Back 13

The system of exchange rates and international payments that enables countries and their citizens to purchase goods and services from one other

Front 14

Liberalization of the Trading System

Back 14

Lowering and/or removing trade barriers such as tariffs, quotas, and subsidies.

Front 15

Multi-Polar World

Back 15

A world economy in which the engines of growth could comprise several major industrialized and emerging market economies such as the US, the EU, China, India, Brazil, Russia, and South Africa rather than the United States alone.

Front 16

Sustainable Development

Back 16

Economic development that meets the needs of the present generation without compromising the ability of future generations to meet their own needs, whether environmentally, socially, or economically.

Front 17

The Web

Back 17

The World Wide Web, (www)

A system of interlinked documents contained and accessed via the Internet,

Front 18

Transparency

Back 18

A system of full disclosure and openness that aims to avoid any semblance of corruption and cronyism.

Front 19

Acculturation

Back 19

The ability of a firm to adjust to a culture different from its own.

Front 20

Achievement vs. Ascription

Back 20

How rewards in a society are handed out: performance vs. place in society

Front 21

Aesthetics

Back 21

What is perceived as taste and beauty in a society.

Front 22

Attitudes

Back 22

Feelings or opinions

Front 23

Backward Translation

Back 23

Translating a message from English into a foreign language, then translating it back into English to check for accuracy.

Front 24

Culture

Back 24

Learned behavior; a way of life for one group of people living in a single, related, and independent community.

Front 25

Guanxi

Back 25

Chinese philosophy denoting friendships among unequals and unlimited exchanges of favors; it is not based on sentiment, emotions, or a group orientation.

Front 26

Individualism vs. Collectivsm

Back 26

The worth of an individual vs. the worth of a group.

Front 27

Inwa

Back 27

Korean philosophy stressing harmony among unequals, loyalty to parents and authority figures, and superiors being responsible for the well-being of subordinates.

Front 28

Manners and Customs

Back 28

The way a society does things

Front 29

Masculine vs. Feminine

Back 29

The extent to which a society minimizes gender inequality.

Front 30

Material Culture

Back 30

A direct result of technology; best demonstrated by economic, social, financial, and marketing infrastructures.

Front 31

Neutral vs. Emotional

Back 31

The extent to which a society expresses itself emotionally

Front 32

Non-Verbal Communication

Back 32

Tone of voice, gestures, eye contact, body positions, facial grimaces, and other body language that accompanies verbal communication.

Front 33

Power Distance

Back 33

The level of egalitarianism (equality) in a society

Front 34

Reference Groups

Back 34

Groups that are important to individuals

Front 35

Social Institutions

Back 35

The way people in a society relate to one another within group settings.

Front 36

Social Stratification

Back 36

The extent to which groups at the top of the social pyramid exert control over others at lower levels of the pyramid.

Front 37

Specific vs. Diffuse

Back 37

The degree to which a society compartmentalizes roles

Front 38

Time Orientation

Back 38

The extent to which a society emphasizes short-run or long-run time horizons.

Front 39

Uncertainty Avoidance

Back 39

The extent to which societies tolerate risk or are risk averse.

Front 40

Universalism vs. Particularism

Back 40

The importance of rules versus relationships

Front 41

Values

Back 41

Basic beliefs or philosophies that are pervasive in a society.

Front 42

Verbal Communication

Back 42

A message's actual contents (i.e. what the message says)