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Intro to International Business - Exam 1 (OSU) with complete solutions
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  • Module
  • International Business
  • Institution
  • International Business

Globalization integration of national economies through trade, investment, capital flow, labor, migration and technology International Business performance of trade and investments by firms across borders International Trade Exchange of products and services across national borders...

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  • August 23, 2024
  • 6
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • intro to international business exam 1 osu

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  • International Business
  • International Business

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Intro to International Business - Exam 1
(OSU) with complete solutions



Globalization - ANSWER-integration of national economies through trade, investment,
capital flow, labor, migration and technology

International Business - ANSWER-performance of trade and investments by firms
across borders

International Trade - ANSWER-Exchange of products and services across national
borders, typically through exporting and importing

International Portfolio Investment - ANSWER-passive ownership of foreign securities
such as stocks and bonds for the purpose of generating financial returns

Risks of IB - ANSWER-1- Cross cultural risk
2- Country risk
3- Currency risk
4- Commercial risk

MNE - ANSWER-a large company with substantial resources that performs various
business activities through a network of subsidiaries and affiliates located in multiple
countries (Disney)

SME - ANSWER-500 or fewer employees, 90% of all firms in most coutnries

Born Global Firm - ANSWER-a young entrepreneurial company that initiates
international business activity very early in its evolution, moving rapidly into foreign
markets

Non-governmental foundation - ANSWER-many non profit globally

, World Bank - ANSWER-A specialized agency of the United Nations that makes loans to
countries for economic development, trade promotion, and debt consolidation.Helps
countries fight poverty.

WTO - ANSWER-successor to GATT, nation states comply to rules of trade treaties

Uruguay round - ANSWER-a trade agreement to dramatically lower trade barriers
worldwide; created the World Trade Organization

Moore's Law - ANSWER-the observation that computing power roughly doubles every
two years.

Containerization - ANSWER-Process of combining several unitized loads into a single,
well-protected load for shipment.

Political Economy - ANSWER-the political, economic, and legal systems of a country

Economic Development - ANSWER-the process by which a nation improves the
economic, political, and social well-being of its people

Economic Growth - ANSWER-a steady, long-term increase in real GDP

Collectivism - ANSWER-Plato, socialistic, collective goals>individual goals, state control

Individualism - ANSWER-individuals>group, self expression, Aristotle, free-markets

Free Market - ANSWER-prices are determined by unrestricted competition between
privately owned businesses

Command Economy - ANSWER-An economic system in which the government controls
a country's economy.

Mixed Economy - ANSWER-An economy in which private enterprise exists in
combination with a considerable amount of government regulation and promotion.

Common Law - ANSWER-A legal system based on custom and court rulings (USA)

Civil Law - ANSWER-A law that governs relationships between individuals and defines
their legal rights. (Germany)

Theocratic Law - ANSWER-legal system based on religious teachings (Islam)

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