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42 Cards in this Set
- Front
- Back
Accountability
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A system of responsibility in which an authority, such as the government, is answerable for its actions. |
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Adaptive Institutions |
Government organizations that create strong incentives for private investment and operate under a system of checks and balances. |
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Antitrust Laws |
National laws aimed at maintaining competition in all sectors of the economy and preventing monopolistic behavior of firms. |
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Bandwidth |
The amount of data and other information that can be transferred in a second via the internet. |
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Capital Markets |
A stock exchange where long-term financial instruments such as stocks and bonds can be bought and sold. |
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Decoupling |
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. |
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Digital Divide |
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. |
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Digital Era |
The period of transformation that adjusts lifestyles to make the Internet and wireless technologies a part of everyday life. |
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Economic Reforms |
Economic policy changes that promote private sector development, competitive markets, market-pricing, freer trade, and deregulation. |
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Emerging Market Economies |
Countries that are implementing more open trade and free-market policies. |
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Globalization |
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. |
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Institutions |
The rules, enforcement mechanisms, and organizations that support market transactions. |
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International Monetary System |
The system of exchange rates and international payments that enables countries and their citizens to purchase goods and services from one other |
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Liberalization of the Trading System |
Lowering and/or removing trade barriers such as tariffs, quotas, and subsidies. |
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Multi-Polar World |
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. |
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Sustainable Development |
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. |
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The Web |
The World Wide Web, (www) A system of interlinked documents contained and accessed via the Internet, |
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Transparency |
A system of full disclosure and openness that aims to avoid any semblance of corruption and cronyism. |
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Acculturation |
The ability of a firm to adjust to a culture different from its own. |
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Achievement vs. Ascription |
How rewards in a society are handed out: performance vs. place in society |
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Aesthetics |
What is perceived as taste and beauty in a society. |
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Attitudes |
Feelings or opinions |
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Backward Translation |
Translating a message from English into a foreign language, then translating it back into English to check for accuracy. |
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Culture |
Learned behavior; a way of life for one group of people living in a single, related, and independent community. |
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Guanxi |
Chinese philosophy denoting friendships among unequals and unlimited exchanges of favors; it is not based on sentiment, emotions, or a group orientation. |
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Individualism vs. Collectivsm |
The worth of an individual vs. the worth of a group. |
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Inwa |
Korean philosophy stressing harmony among unequals, loyalty to parents and authority figures, and superiors being responsible for the well-being of subordinates. |
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Manners and Customs |
The way a society does things |
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Masculine vs. Feminine |
The extent to which a society minimizes gender inequality. |
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Material Culture |
A direct result of technology; best demonstrated by economic, social, financial, and marketing infrastructures. |
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Neutral vs. Emotional |
The extent to which a society expresses itself emotionally |
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Non-Verbal Communication |
Tone of voice, gestures, eye contact, body positions, facial grimaces, and other body language that accompanies verbal communication. |
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Power Distance |
The level of egalitarianism (equality) in a society |
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Reference Groups |
Groups that are important to individuals |
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Social Institutions |
The way people in a society relate to one another within group settings. |
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Social Stratification |
The extent to which groups at the top of the social pyramid exert control over others at lower levels of the pyramid. |
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Specific vs. Diffuse |
The degree to which a society compartmentalizes roles |
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Time Orientation |
The extent to which a society emphasizes short-run or long-run time horizons. |
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Uncertainty Avoidance |
The extent to which societies tolerate risk or are risk averse. |
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Universalism vs. Particularism |
The importance of rules versus relationships |
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Values |
Basic beliefs or philosophies that are pervasive in a society. |
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Verbal Communication |
A message's actual contents (i.e. what the message says) |