INTL 220 - Centennial College Midterm Exam Spring 2023
with complete solution
What Countries sit in the Middle of the triangle graph of global market
economies?
BRICS
______________is when barriers to market integration are high but not high
enough to completely insulate countries from each other.
Semi-Globalization
An individual's ability to understand and adjust to new cultures is_____________
Cultural intelligence
The relative advantage in one economic activity that a nation enjoys over another
Comparative advantage
Formal and Informal rules of the game fall under what view?
Institutional based view
Non value adding resources can add to?
Competitive disadvantage
When was NAFTA launched?
1994
Efforts to reduce trade and investment barriers around the globe
Global economic integration
List the three types of economic systems
Market, Mixes and Command
What is the name of the law that is governed by religious beliefs?
Theocratic law
Principles, standards, and norms of conduct governing individual and firm
behavior
Ethics
Barriers to international trade contributed to what major economic downturn?
The Great Depression
____________is an age of extensive global interaction and competition
Globalization
Patents, Copyrights and Trademarks are?
Intellectual Property Rights
Legal rights to use economic property and derive benefits from it.
Property Rights
How many types of Totalitarianism are there?
4
Laws, regulations and rules fall under what institution?
Formal institutions
What do institution do?
Reduce uncertainty
Outsourcing is the act of?
Leasing or selling for an outside firm
with complete solution
What Countries sit in the Middle of the triangle graph of global market
economies?
BRICS
______________is when barriers to market integration are high but not high
enough to completely insulate countries from each other.
Semi-Globalization
An individual's ability to understand and adjust to new cultures is_____________
Cultural intelligence
The relative advantage in one economic activity that a nation enjoys over another
Comparative advantage
Formal and Informal rules of the game fall under what view?
Institutional based view
Non value adding resources can add to?
Competitive disadvantage
When was NAFTA launched?
1994
Efforts to reduce trade and investment barriers around the globe
Global economic integration
List the three types of economic systems
Market, Mixes and Command
What is the name of the law that is governed by religious beliefs?
Theocratic law
Principles, standards, and norms of conduct governing individual and firm
behavior
Ethics
Barriers to international trade contributed to what major economic downturn?
The Great Depression
____________is an age of extensive global interaction and competition
Globalization
Patents, Copyrights and Trademarks are?
Intellectual Property Rights
Legal rights to use economic property and derive benefits from it.
Property Rights
How many types of Totalitarianism are there?
4
Laws, regulations and rules fall under what institution?
Formal institutions
What do institution do?
Reduce uncertainty
Outsourcing is the act of?
Leasing or selling for an outside firm
