CBA 300 Exam 3 with Questions and Answers
______ are important to business decision makers because they provide ways to settle conflicts between countries and resolve disagreements more easily than if one government worked directly with another. ANSWER Institutions
The Global Compact was esta...
CBA 300 Exam 3 with Questions and
Answers
______ are important to business decision makers because they provide ways to settle
conflicts between countries and resolve disagreements more easily than if one government
worked directly with another. ANSWER Institutions
The Global Compact was established by the United Nations and is the basis for a(n) ______
initiative. ANSWER sustainability
The Organisation for Economic Co-operation and Development (OECD) and the World
Trade Organization (WTO) are two global membership institutions that focus on ______ for
a broad range of economies. ANSWER economic development
The United States-Mexico-Canada Agreement replaced the free trade arrangement between
the United States, Mexico and Canada known as ______. ANSWER NAFTA
The Maastricht Treaty established the ______ in 1993. ANSWER European Union
A major purpose of the World Trade organization is to ______. ANSWER reduce or
eliminate trade barriers
______ are organizations that a group or society construct to provide stability and meaning to
social life. ANSWER Institutions
Which type of institution operates through laws and regulations to influence behavior?
ANSWER formal
, What is one of the world's largest free trade zones and one of the most powerful productive
forces in the global economy? ANSWER NAFTA
The ______ is world's largest exporter and second-largest importer. ANSWER European
Union
The Council of the European Union represents the _____-_____ and is the primary policy-
setting institution in the EU. ANSWER member-states
Which worldwide organization has 193 member-nations and is dedicated to the promotion of
peace and global stability? ANSWER United Nations
What are three general areas of responsibility of the United Nations? ANSWER - Set
technical standards and norms.
- Prepare the ground for investment in emerging economies.
- Address the downsides of globalization, such as terrorism and arms traffic.
Which efforts describe ways by which the United Nations has direct impact on the conduct of
business? ANSWER - Universal Postal Union protocols prevent losses and allow the mail to
move across borders.
- When ships sail freely across the seas, they are protected by rules legitimized in UN
conferences.
- Commercial airlines have the right to fly across borders and land in case of emergency, due
to agreements negotiated by the UN system.
What are two examples of formal institutions? ANSWER - the police
- the federal government
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