Specialization According to Comparative Advantage Can

question 13

Multiple Choice

Specialization according to comparative advantage can

• A) generate more output than being self-sufficient
• B) make economies be less dependent on others
• C) is very costly and hard to implement
• D) cause too much of one type of good to be produced
• E) All of these

Understand the GLOBE research study's methodology, critiques, and its comparison to Hofstede’s classification system.

Identify and describe the attributes and characteristics of cultural dimensions according to GLOBE and Hofstede.

Recognize the elements used by GLOBE to create regional clusters and their implications for international leadership.

Recall significant contributors to the field of cross-cultural competencies and leadership research.

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Definitions:

Unilateral Mistake

A misunderstanding or error made by one party in a contract, which may not necessarily void the contract.

Misrepresentation

The assertion of a fact that is not in accord with the truth. A contract can be rescinded on the ground of misrepresentation when the assertion relates to a material fact or is made fraudulently and the other party actually and justifiably relies on the assertion.

Material Fact

A fact that is significant or essential to the issue or matter at hand, and if known, could influence an individual's decision in a transaction, contract, or legal case.

Reliance

The act of depending or counting on something or someone; in legal contexts, it often refers to actions taken based on the trust in a promise or statement by another party.