WGU C211 – Global Economics for Managers Exam Questions and Answers Rated A+ Latest 2023/2024
1 view 0 purchase
Module
WGU C211 – Global Economics for Managers
Institution
WGU C211 – Global Economics For Managers
WGU C211 – Global Economics for Managers Exam Questions and Answers Rated A+ Latest 2023/2024
**What Political views exist on Foreign Direct Investment (FDI)**
**answer includes radicalism**
Radical View - Hostile to foreign direct investment (FD)
Free Market View - Suggests foreign direct ...
WGU C211 – Global Economics for Managers
Exam Questions and Answers Rated A+
Latest 2023/2024
**What Political views exist on Foreign Direct Investment (FDI)**
**answer includes radicalism**
Radical View - Hostile to foreign direct investment (FD)
Free Market View - Suggests foreign direct investment (FDI) unrestricted by government intervention
is the best.
Pragmatic Nationalism - Only approves foreign direct investment (FDI) when its benefits outweigh its
costs.
**What is Resource similarity**
The extent to which a given competitor possesses strategic endowment comparable, in terms of both
type & amount, to those of the focal firm.
**How are supply and demand related to the exchange rate of a country?**
The 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?**
1. 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
**How is global business affected by democracy?**
An individual's right to freedom of expression and organization. For example, starting up a firm is an
act of economic expression
**How is global business affected by totalitarianism?**
These countries often experience wars, riots, protests, chaos, & breakdowns, which result in higher
political risk.
**Democracy**
Citizens elect representatives to govern the country on their behalf.
Right to freedom of expression and organization.
**Totalitarianism**
One person or party exercises absolute political control over the population.
**What is Property right?**
The legal rights to use an economic resource & to derive income & benefits from it.
, **Intellectual property is a right of?**
right of ownership/right to derive income from it
**Market economy**
Characterized by the "invisible hand" of market forces-all factors of production should be privately
owned.
**Command economy**
Defined by a government taking all factors of production to be government-owned or state-owned, &
all supply, demand, & pricing are planned by the government.
**Mixed economy**
An economy that has elements of both a market economy & a command economy.
It boils down to the relative distribution of market forces versus command forces.
**What is an Indifference curve used for**
A curve that shows consumption bundles that give the consumer the same level of satisfaction
(i.e. combinations of pizza & Pepsi with which the consumer is equally satisfied.)
***Describe the basic distinctions between the market models with respect to:
1. number of market participants
2. type of product being marketed
*ease of entry/exit into the market
the prevalence of advertising/marketing**
1. Monopoly (1 firm - cable tv)
Oligopoly (few firms - cigarettes)
*entry is difficult & advertising is a natural feature.
2. Monopolistic competition many firms, diff products (movies)
Perfect competition many firms, identical products (milk)
*entry is easy & spend very little on advertising.
**What Fundamental truth realized when studying the behavior of an oligopolistic firm within the
context/model called "prisoner's dilemma"**
**look for cooperative in the answer**
self-interest makes it difficult for the oligopolists to maintain cooperative outcome. Relentless logic of
self-interest drives participants toward the non-cooperative outcome, which is worse for both parties.
Each oligopolist has an incentive to cheat. Just as self-interest drives the prisoners in the prisoners'
dilemma to confess, self-interest makes it difficult for the oligopolists to maintain the cooperative
outcome with low production, high prices, & monopoly profits.
***How might an oligopolistic firm behave like a monopoly?
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller ACADEMICAIDSTORE. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for £8.10. You're not tied to anything after your purchase.
