MCS 4600 Lecture Notes - Lecture 2: Lvmh, Korean Drama, Anatomical Terms Of Motion

• School: University of Guelph
• Department: Marketing and Consumer Studies
• Course: MCS 4600
• Professor: Lefa Teng

Document Summary

Culture: learned values and beliefs that are shared by a group of people, there are differences in languages, behaviour, and traditions, in china, you should not bring wine to people"s houses in a white box! Same with readings, traditionally the bride wears red: in china, lucky number is 8 - represents a lot of money (fortune). 6 - represents for the whole year you do anything with success. Absolute advantages: best productivity relative to other countries ex. Comparative advantages: ability to produce at a lower opportunity cost than another ex. What does eye contact mean in north america and in asia: in north america it means respect and that you are listening to them, in asia it means the same thing now, traditionally eye contact wasn"t made. Culture: sum of values, rituals, symbols, and thought processes that are learned, shared by a group of people, and transmitted from generation to generation.