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Author Question: What are the advantages and disadvantages of using a nation as a point of reference for a culture? ... (Read 136 times)

ghost!

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on: Jul 7, 2018
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?
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babybsemail

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Reply #1 on: Jul 7, 2018
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.


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