Term
| Whats a macro environment? |
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Definition
| environmental elements a company cant control |
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Term
| What are 5 maco environments? |
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Definition
1. economic
2. competitive
3. technological
4. social
5. governmental |
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Term
| What are 4 competitive macro environments & definition |
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Definition
1. Monopoly-C4=very high, one supplier many buyers
2. Oligopoly- C4=GT 60%, few companies
3. Monopolistic competition-C4 LT 40%, many suppliers many sellers
4. Perfect competition- C4 very low, many supplier many buyers |
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Term
| What are 2 roles of shopping in society? |
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Definition
1. Hedonic- enjoy shopping, shop to shop
2. utilitarian- have a goal |
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Term
| What are 4 types of government |
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Definition
1. Code law- most countries
2. Common law- U.S.
3. Marxist law- based on code law, China
4. Islamic law- based on Koran, Pakistan |
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Term
| What are 4 types of Government influence on ownership? |
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Definition
1. confiscation- no payments to owner, gain assets
2. expropriation- compensate owner, gain assets
3. domestication- ownership to nationals
4. nationalization- run as gov't institution |
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Term
| What is a socialistic view? |
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Definition
| Centrally planned economy |
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Term
| What is a capitalistic view? |
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Definition
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Term
| What is a micro environment? |
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Definition
| Price, product, promotion, distribution of management |
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Term
| Whats the difference btwn. a macro and micro environment? |
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Definition
Micro environment- inside company controllable
Macro environment- outside company, uncontrollable |
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Term
| What are 4 factors of production? |
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Definition
1. Land
2. Labor
3. Entrepreneurship
4. Capital |
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Term
Whats an absolute advantage?
A relative advantage? |
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Definition
Absolute- country can produce more efficiently than trading partners
Relative- Country produces what it can make most money selling and trades with other countries for goods |
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Term
Countries where capital is a strong factor of production tend to be less stable than countries where capital is not a strong factor.
True or False? |
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Definition
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Term
Countries where capital is a strong factor of production tend to be more developed than countries where capital is not a strong factor.
True or False? |
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Definition
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Term
Countries where land is not a factor of production will often try to protect their land from development, making it difficult for large-scale retailers to enter.
True or False? |
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Definition
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Term
Countries where labor is a strong factor of production are more likely to attract small-scale specialty stores than large-scale hypermarkets or department stores.
True or False? |
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Definition
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Term
Which type of competitive environment is characterized by few suppliers, many buyers and moderately high price?
A. Monopoly
B. Oligopoly
C. Monopolistic competition
D. Perfect competition |
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Definition
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Term
It is important that retailers entering a country understand the basis of the economic system of the country, because for example, one of the hallmarks of economies that tend toward socialism is that they do not require high levels of social welfare programs for employees, so retailers have a lower cost of operation relative to countries with more capitalistic economies.
True or False? |
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Definition
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Term
Which type of competitive environment is characterized by many suppliers, many buyers, homogeneous products and low price?
A. Monopoly
B. Oligopoly
C. Monopolistic competition
D. Perfect competition |
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Definition
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Term
Which of the indicators below provides clues about the competitive environment in the retail industry in a specific country?
A. Savings rate
B. Discretionary income
C. Per capita GDP
D. concentration ratio
E. employment rate |
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Definition
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Term
Which type of competitive environment is characterized by many suppliers of hetergeneous goods, many buyers and moderate price?
A. Monopoly
B. Oligopoly
C. Monopolistic competition
D. Perfect competition |
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Definition
| C. Monopolistic competition |
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Term
The situation where a foreign government takes over a company without making any payment to the owners of the company is called:
A. Nationalization
B. Expropriation
C. Domestication
D. Confiscation |
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Definition
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Term
The situation where a government takes over a company and compensates the owners in some nominal way for the business is called:
A. Nationalization
B. Expropriation
C. Domestication
D. Confiscation
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Definition
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Term
The situation where a government forces a company to transfer ownership of a company (or some portion of ownership) to a foreign national is called:
A. Confiscation
B. Expropriation
C. Domestication
D. Nationalization |
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Definition
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Term
Which type of legal system forbids the charging of interest for credit accounts? |
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Definition
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