Which of the Following Is Defined to Mean "Honesty in Fact

question 72

Multiple Choice

Which of the following is defined to mean "honesty in fact" in performing the duties assumed in the contract or in carrying out the transaction?

• A)Course of dealing
• B)Usage of trade
• C)Caveat emptor
• D)Good faith

Understand the concept of consumer equilibrium and how it can be achieved.

Understand different international business strategies (e.g., licensing, strategic alliance, exporting) and their characteristics.

Recognize various staffing models used by international businesses (e.g., ethnocentric, polycentric, geocentric, regiocentric) and their application.

Identify the impact of cultural dimensions on organizational behavior and management in an international context.

---

Definitions:

Low Power Distance

A cultural dimension where individuals prefer a more equal distribution of power and reject hierarchical structures.

Power Distance

A cultural dimension that describes the extent to which less powerful members of institutions and organizations expect and accept that power is distributed unequally.

New Zealand

A country located in the southwestern Pacific Ocean, known for its diverse ecosystems, indigenous Maori culture, and picturesque landscapes.

Power Distance

A cultural dimension that describes the extent to which individuals in a society accept and expect power to be distributed unequally.