A competitive advantage occurs when a nation is able to produce more output than any other nation.

A competitive advantage occurs when a nation is able to produce more output than any other nation.

True

False

The difference between civil law and common law is grounded in the methodological approach to codes and statues.

True

False

Administrative delays impose waiting periods between the time when the quality of the product is determined and when a product can actually be sold in the market.

True

False

A mixed economy is an economic system that allows for the simultaneous operation of publicly and privately owned enterprises.

True

False

John Locke first proposed the theory of absolute advantage in 1776.

True

False

According to Trompenaar’s model of culture, people in Universalistic cultures share the belief that general rules, codes, values and standards take precedence over particular needs and claims of friends and relations.

True

False

Low context communication is effective in most of the USA.

True

False