International Business Final Exam Questions and Answers 100% Solved
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Course
International Business
Institution
International Business
International Business Final Exam
Questions and Answers 100% Solved
Define Globalization A trend towards greater economical, cultural, political and
technological interdependence.
What happens when denationalization occurs? National boundaries become less important.
What is the differenc...
International Business Final Exam
Questions and Answers 100% Solved
Define Globalization ✔✔A trend towards greater economical, cultural, political and
technological interdependence.
What happens when denationalization occurs? ✔✔National boundaries become less important.
What is the difference between denationalization and internationalization? ✔✔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? ✔✔The convergence of buyer preferences,
emergences of global producers, new market opportunities.
Globalization of Markets helps in... ✔✔Marketing and Production
What is the Globalization of Production? ✔✔Producing at locations where it is low cost of
quality maximizing. (Access to low cost workers, access expertise)
,Globalization of production efficiency lowers... ✔✔Costs of production
Name 3 factors causing Globalization. ✔✔(1) Falling barriers to investment and trade
(2) Technological innovations
(3) Increase in Global Competition
What is the WTO? ✔✔A contract between member nations to maintain fair and open trade
policies.
What are the 3 goals of the WTO? ✔✔(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 ✔✔(1) Accelerate Data
(2) Accelerate Good
(3) Equipment
(4) People
,Globalization impacts countries through....(5) ✔✔(1) Jobs and Wages
(2) Income inequality
(3) Labor and environment
(4) National sovereignty
(5) Culture
3 points to support "Globalization costs Jobs and lowers wages" ✔✔(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" ✔✔(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. ✔✔(1) Inequality within nations
, (2) between nations
(3) Global inequality
Name 2 key players in International Business ✔✔International corporations, entrepreneurs and
small businesses
Multinational corporations are important in Globalization because... ✔✔They employ many
people
Entrepreneurs are important in Globalization because... ✔✔They are more active in international
business (because of technology)
What is culture? ✔✔Backgrounds, assumptions, expectation, ways of communication, values
beliefs, rules.
Define ethnocentricity. ✔✔The belief that one's culture is superior to anothers.
Define Cultural Literacy. ✔✔Knowledge and understanding of anothers culture which helps
improve collaborative work.
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