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Describe the Implications That Result as the Volume of World

question 14

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Describe the implications that result as the volume of world trade continues to grow faster than world GDP.


Definitions:

Individualism

A social theory favoring freedom of action for individuals over collective or state control, often associated with valuing independence and self-reliance.

Geert Hofstede

A Dutch social psychologist known for his work on cultural dimensions and their impact on business practices.

Uncertainty Avoidance

A cultural dimension describing the extent to which people in a society attempt to cope with anxiety by minimizing uncertainty.

National Culture

The set of shared values, beliefs, and norms that affect the behavior and practices of individuals within a country.

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