ENTREPRENEURSHIP AND THE GLOBAL ECONOMY
CULTURAL DIFFERENCES AND ENTREPRENEURSHIP
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Customs, and social behaviors often differ from those in the United States
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The rate at which one currency can be converted to another
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Planning and managing the flow of goods, services, and people to a destination
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Specific laws that apply when doing business in the US and in foreign countries
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Detailed explanation-1: -An exchange rate is a rate at which one currency will be exchanged for another currency. While most exchange rates are floating and will rise or fall based on the supply and demand in the market, some exchange rates are pegged or fixed to the value of a specific country’s currency.
Detailed explanation-2: -The exchange rate is the price of a unit of foreign currency in terms of the domestic currency. In the Philippines, for instance, the exchange rate is conventionally expressed as the value of one US dollar in peso equivalent. For example, US$1 = P50. 00.
Detailed explanation-3: -A fixed exchange rate is a regime applied by a government or central bank that ties the country’s official currency exchange rate to another country’s currency or the price of gold.