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INTERNATIONAL BUSINESS FINAL EXAM | QUESTIONS & ANSWERS (VERIFIED) | LATEST UPDATE | GRADED A+
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Created By: A SolutionINTERNATIONAL BUSINESS FINAL EXAM |
QUESTIONS & ANSWERS (VERIFIED) | LATEST
UPDATE | GRADED A+
Define Globalization
Correct Answer: A trend towards greater economical, cultural, political and
technological interdependence.
What happens when denationalization occurs?
Correct Answer: National boundaries become less important.
What is the difference between denationalization and internationalization?
Correct Answer: The nature of interdependent relations. Denationalization =
outgrowing national borders. They cooperate for their well being. Internationalization = source
of interdependence comes from pressure.
What is meant by the Globalization of Markets?
Correct Answer: The convergence of buyer preferences, emergences of global
producers, new market opportunities.
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,Created By: A Solution
Globalization of Markets helps in...
Correct Answer: Marketing and Production
What is the Globalization of Production?
Correct Answer: Producing at locations where it is low cost of quality maximizing.
(Access to low cost workers, access expertise)
Globalization of production efficiency lowers...
Correct Answer: Costs of production
Name 3 factors causing Globalization.
Correct Answer: (1) Falling barriers to investment and trade
(2) Technological innovations
(3) Increase in Global Competition
What is the WTO?
Correct Answer: A contract between member nations to maintain fair and open trade
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,Created By: A Solution
policies.
What are the 3 goals of the WTO?
Correct Answer: (1) Help free flow of trade
(2) Help negotiate further opening of markets
(3) Settle trade disputes between members
Name 4 impacts of technology innovation
Correct Answer: (1) Accelerate Data
(2) Accelerate Good
(3) Equipment
(4) People
Globalization impacts countries through (5)
Correct Answer: (1) Jobs and Wages
(2) Income inequality
(3) Labor and environment
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, Created By: A Solution
(4) National sovereignty
(5) Culture
3 points to support "Globalization costs Jobs and lowers wages"
Correct Answer: (1) Eliminates Jobs in developed nations
(2) Wages lower in developed nations
(3) Exploits workers in developing nations
3 points to support "Globalization creates jobs and boosts wages"
Correct Answer: (1) Increases wealth and efficiency
(2) Generates labor market flexibility
(3) Creates jobs in developing nations
Name 3 types of inequality as an effect of Globalization.
Correct Answer: (1) Inequality within nations
(2) between nations
(3) Global inequality
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