FVC1 Global Business – SS QUESTIONS WITH COMPLETE SOLUTIONS

According to the Chapter 1 opening vignette, which of the following is a major global concern, especially to international organizations such as the International Monetary Fund, the World Bank, and the World Trade Organization? a. The spread of the AIDS virus b. Lack of adequate supplies of food in underdeveloped countries c. The increase in the number of humans inhabiting the planet d. Nationalist or protectionist policies that curtail world trade e. Lack of adequate amounts of drinking water in underdeveloped countries correct answer: d. Nationalist or protectionist policies that curtail world trade The dawn of globalization can be traced back to the _____ century. a. 15th b. 21st c. 18th d. 16th e. 20th correct answer: a. 15th Which of these encompasses the socio-economic reform process of eliminating trade, investment, cultural, information technology, and political barriers across countries, which could lead to increased economic growth and geo-political integration and interdependence among nations of the world? a. Antitrust laws b. Adaptive institutions c. Sustainable development d. Globalization e. IMF correct answer: d. Globalization _____ refers to a fundamental global shift in which developing economies that were once dependent upon industrialized countries for economic advancement, begin to solidly grow based on their own underlying economic strengths. a. Exporting b. Outsourcing c. A multi-polar world