According to Hofstede, Countries with a Long-Term Orientation

question 34

Multiple Choice

According to Hofstede, countries with a long-term orientation

• A)have a high rate of per capita savings.
• B)have citizens who prioritize happiness over achievement and perseverance.
• C)have citizens who live for the present and value personal stability.
• D)have citizens who tend to spend more and save less.
• E)foster organizations that emphasize immediate results over year-end goals.

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Definitions:

Long-run Supply Curve

A graphical representation of the quantities of goods and services that producers are willing to offer for sale at different prices in the long run, when all inputs can be varied.

Marginal Cost Curve

A graphical representation showing how the cost to produce one additional unit of a good changes as production volume changes.

Break-even Point

The point at which total costs and total revenues are equal, meaning a business or project is neither making a profit nor a loss.

Marginal Cost

The additional cost incurred from producing one more unit of a product or service, which can influence production decisions.