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WGU C211 Global Economics Terms all Questions & answers solved accurately with Complete Solution Graded A+ latest version
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WGU C211 Global Economics Terms all Questions & answers solved accurately with Complete Solution Graded A+ latest version

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  • July 6, 2024
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  • 2023/2024
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WGU C211 Global Economics Terms

Foreign Direct Investment (FDI) - ANSWER-Investment in, controlling, and managing
value-added activities in other countries.

Mercantilism/Theory of Mercantilism - ANSWER-A theory that suggests that the wealth
of the world is fixed and that a nation that exports more and imports less will be richer.

Strategic Trade Policy - ANSWER-Government policy that provides companies a
strategic advantage in international trade through subsidies and other supports.

Transaction Risk - ANSWER-It's the exchange rate risk associated with the time delay
between entering into a contract and settling it.

Cognitive Pillar - ANSWER-The internalized (or taken-forgranted) values and beliefs
that guide individual and firm behavior.

Normative Pillar - ANSWER-The mechanism through which norms influence individual
and firm behavior.

Regulatory Pillar - ANSWER-The coercive power of Governments.

Democracy - ANSWER-A political system in which citizens elect representatives to
govern the country on their behalf.

Totalitarianism - ANSWER-A political system in which one person or party exercises
absolute political control over the population.

Civil Law - ANSWER-A legal tradition that uses comprehensive statutes and codes as a
primary means to form legal judgements.

Common Law - ANSWER-A legal tradition that is shaped by precedents and traditions
from previous judicial decisions.

Theocratic Law - ANSWER-A legal system based on religious teachings.

Property Rights - ANSWER-The ability of an individual to own and exercise control over
scarce resources.

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