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WGU C211 - Global Economics for Managers all Questions & answers solved accurately with Complete Solution Graded A+ latest version
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WGU C211 - Global Economics for Managers 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 for
Managers Exam Latest ()
(Verified Answers)

What different political views exist on Foreign Direct Investment FDI? - answerRadical View,
Free Market View, Pragmatic Nationalism

**answer includes radicalism**

What is resource similarity and how does this impact competitive dynamics? - answerExtent to
which a given competitor possesses strategic endowment comparable, in terms of both type &
amount to those of the focal firm.

*Firms with a high degree are likely to have similar competitive actions. (Starbuck's instant
coffee & McDonald's iced coffee)

What are the critical features of the product life cycle? - answer1. New stage: prod. of a new
product (ex. TV) that commands a price premium will concentrate in the USA, which exports to
other developed nations.
2. Maturing stage: demand & ability to prod.; grow in other dev. nations (ex. Australia & Italy), it
is now worthwhile to produce there.
3. Standardized stage: the prev. new prod. is standardized (or commoditized).
Prod. will now move to low-cost dev. nations, which export to dev. nations. In other words,
comparative advantage may change over time.

How are supply and demand related to the exchange rate of a country? - answerThe price of a
commodity, a country's currency, is fundamentally determined by this.
Strong demand leads to price hikes; oversupply results in price drops.

What advantages exist with first mover? - answer1. Proprietary, technological leadership
2. Pre-emption of scarce resources
3. Establishment of entry barriers for late entrants
4. Avoidance of clash with dominant firms at home
5. Relationships with key stakeholders such as governments

Discuss and compare the three pillars (regulatory, normative, and cognitive) - answer**Answer
contains: laws, regulations, rules**

, regulatory - The coercive power of governments

normative - Values, beliefs, and actions of other relevant players (norms, cultures, ethics)

cognitive - The internalized, taken-for-granted values & beliefs that guide behavior. (between
right/wrong)

How is global business affected by democracy? - answerAn individual's right to freedom of
expression & organization. Ex. starting up a firm is an act of economic expression

How is global business affected by totalitarianism? - answerThese countries often experience
wars, riots, protests, chaos, & breakdowns, resulting in higher political risk.

What are the differences between democracy and totalitarianism? - answerdemocracy - Citizens
elect representatives to govern the country on their behalf.

totalitarianism - One person or party exercises absolute political control over the population.

What is a property right? In what way are property rights essential? - answerThe legal rights to
use an economic resource and to derive income and benefits from it.
*Can be used as collateral for starting a firm; not as common in developing countries, therefore
hindering economic growth.

What is an intellectual property right? - answerRights associated with the ownership. They
primarily include rights associated with patents, copyrights, & trademarks.

Contrast the market, command, and mixed economy types. - answermarket - characterized by
the "invisible hand" of market forces-all factors of prod. should be privately owned.

command - defined by a gvrnmnt taking all factors of prod. to be gvrnmnt-owned or
state-owned, & all supply, demand, & pricing are planned by the gvrnmnt.

mixed economy - elements of both a mrkt economy & a command economy. It boils down to the
relative distribution of market forces versus command forces.

What is an indifference curve? - answerA curve that shows consumption bundles that give the
consumer the same level of satisfaction
(ex. combo of pizza & Pepsi with which the consumer is equally satisfied.)

How is the demand curve for a perfectly competitive firm distinct from the demand curve for a
monopolistic market? - answercompetitive demand curve - Horizontal line

monopolist demand curve - downward sloping demand curve

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