Refer to Table 20.1. Mexico has

A) a comparative advantage but not an absolute advantage in orange production.
B) a comparative advantage but not an absolute advantage in banana production.
C) an absolute advantage and a comparative advantage in banana production.
D) an absolute advantage and a comparative advantage in orange production.

Foreclosure is a process that allows a lender to legally repossess and auction off the property that is securing a loan.

Refer to Zappos. Through the four week training program Zappos is fostering an environment where their employees develop a collection of shared values, learn about company rituals and develop a sense of community, in other words they are getting to know the ______________.

A) organizational pyramid.
B) organizational culture.
C) virtual organization.
D) profit model.
E) contingency plans.

____ is the highest level of Maslow's hierarchy of needs.

A) Growth
B) Self-actualization
C) Esteem
D) Affiliation

In the context of the entry tactics available for different entry modes, which of the following is a difference between the "make" tactic and the "ally" tactic?

A) In the "make" tactic, a company partners with existing firms in the local market, whereas in the "ally" tactic, a firm develops its own operations in the foreign country.
B) In the "make" tactic, a firm develops its own operations in the foreign country, whereas in the "ally" tactic, a company partners with existing firms in the local market.
C) In the "make" tactic, a firm will acquire another firm already operating in the local market, whereas in the "ally" tactic, a firm develops its own operations in the foreign country.
D) In the "make" tactic, a firm partners with existing firms in the local market, whereas in the "ally" tactic, a firm will acquire another firm already operating in the local market.

Which of the following is not a reason standard costs are separated into two components?

A) The price and quantity variances need to be identified separately to correct the actual major differences.
B) Identifying variances determines which manager must find a solution to major discrepancies.
C) If a negative variance is overshadowed by a favorable variance, managers may overlook potential corrections.
D) Variances bring attention to discrepancies in the budget and require managers to revise budgets closer to actual results.