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IBus 380 WSU Exam 1 fully solve and Latest updated 2024
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IBus 380 WSU Exam 1 fully solve and Latest updated 2024
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IBus 380 WSU Exam 1 fully solveand Latest updated 2024
International Business - answer-is any commercial transaction that
crosses the borders of two or more nations
Imports - answer-Goods and services that are purchased abroad and
brought into a country
Exports - answer-Goods and services sold abroad and sent out of a
country
Key Players - answer-Large companies from the wealthiest nations
Firms from emerging markets
Small and medium sized companies
Multinational corporations (MNCs)
Born global firms
Gross Domestic Product (GDP) - answer-Value of all goods and
services produced by a domestic economy over a one-year period
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,Gross National Product (GNP) - answer-Value of all goods and
services produced by a country's domestic and international activities
over a one-year period
GDP or GNP per capita - answer-Nation's GDP or GNP divided by its
population
Globalization - answer-the trend toward greater economic, cultural,
political, and technological interdependence among national
institutions and economies
_____________ is characterized by denationalization, and differs
from internationalization
Denationalization - answer-national boundaries becoming less
relevant
Internationalization - answer-Entities cooperate across national
boundaries
Globalization of markets - answer-refers to the convergence in buyer
preferences in markets around the world
Globalization of markets Benefits - answer-•Reduces marketing costs
•Creates new market opportunities
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, •Levels uneven income streams
•Local buyers' needs
•Global sustainability
Globalization of Production - answer-the spread of production
activities to locations that help a company achieve its cost
minimization or quality maximization objectives for a good or service
Globalization of Production Benefits - answer-•Access lower-cost
workers
•Access technical expertise
•Access production inputs
Drivers of Globalization - answer-•Falling barriers to trade and
investment
•Technological innovation
World Trade Organization (WTO) - answer-an international
organization that enforces the rules of international trade
World Bank - answer-provides financing for national economic
development efforts
International Monetary Fund (IMF) - answer-regulates fixed exchange
rates and enforces rules of the international monetary system
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