Author Question: What are the advantages and disadvantages of using a nation as a point of reference for a culture? ... (Read 134 times)

ghost!

  • Hero Member
  • *****
  • Posts: 560
What are the advantages and disadvantages of using a nation as a point of reference for a culture?
 
  What will be an ideal response?

Question 2

Briefly explain how exchange rates are determined under a fixed exchange rate system and a flexible exchange rate system.
 
  What will be an ideal response?


babybsemail

  • Sr. Member
  • ****
  • Posts: 304
Answer to Question 1

The nation, as opposed to the State, provides a workable definition of a culture for international business because basic similarity among people is both a cause and an effect of national boundaries. The laws governing business operations also apply primarily along national lines. Within the bounds of a nation are people who largely share essential attributes, such as values, language, and race. However, these shared attributes do not mean that everyone in a country is alike, nor do they suggest that each country is unique in all respects.

Answer to Question 2

Under a fixed exchange rate system the price of a given currency does not change relative to each other currency. The gold standard created a fixed exchange rate system because each country tied, or pegged, the value of its currency to gold. In a flexible exchange rate system, exchange rates are determined by the forces of supply and demand.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

During the twentieth century, a variant of the metric system was used in Russia and France in which the base unit of mass was the tonne. Instead of kilograms, this system used millitonnes (mt).

Did you know?

Pregnant women usually experience a heightened sense of smell beginning late in the first trimester. Some experts call this the body's way of protecting a pregnant woman from foods that are unsafe for the fetus.

Did you know?

It is difficult to obtain enough calcium without consuming milk or other dairy foods.

Did you know?

When intravenous medications are involved in adverse drug events, their harmful effects may occur more rapidly, and be more severe than errors with oral medications. This is due to the direct administration into the bloodstream.

Did you know?

More than nineteen million Americans carry the factor V gene that causes blood clots, pulmonary embolism, and heart disease.

For a complete list of videos, visit our video library